Hawaii Revised Statutes 560:6-104 – Right of survivorship
Terms Used In Hawaii Revised Statutes 560:6-104
- Account: means a contract of deposit of funds between a depositor and a financial institution, and includes a checking account, savings account, certificate of deposit, share account and other like arrangement;
"Beneficiary" means a person named in a trust account as one for whom a party to the account is named as trustee;
"Financial institution" means any organization authorized to do business under state or federal laws relating to financial institutions, including, without limitation, banks, savings banks, savings and loan companies or associations, financial services loan companies, and credit unions;
"Joint account" means an account payable on request presently or in the future to one or more of two or more parties whether or not mention is made of any right of survivorship;
A "multiple-party account" is any of the following types of account:
(1) a joint account,
(2) a payable-on-death account, or
(3) a trust account. See Hawaii Revised Statutes 560:6-101
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Decedent: A deceased person.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- multiple-party account: is a ny of the following types of account:
(1) a joint account,
(2) a payable-on-death account, or
(3) a trust account. See Hawaii Revised Statutes 560:6-101
- Party: means a person who, by the terms of the account, has a present right, subject to request, to payment from a multiple-party account. See Hawaii Revised Statutes 560:6-101
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
- Trustee: A person or institution holding and administering property in trust.