PLEDGES – All commitments in this account (which we have received) must first be honoured before the rights of a joint account member, payer or beneficiary of a trust account take effect. For example, when a co-living tenant has mortgaged the account for the payment of a debt and dies, the rights of the surviving tenant to the account are first covered by the payment of the debt. Common Account with Survivorship (And Not As Tenants in Common): Such an account is held by two or more people. Each of you intends that after your death, the balance in the account (subject to a prior promise to which we have given our consent) will belong to the surviving (s) If two or more of you survive, you will have the account balance as a common tenant with survival and survival, not as common ground. TRANSFERT – “transfer” refers to any change in ownership, withdrawal or reversion rights, including (but not limited to) any collateral or transfer of that account as collateral. You cannot transfer the account without our written consent. The tenant`s only assets are the right to use, —————- to operate and purchase the project, in accordance with the rental, in cash and CDs that the tenant promised to the new borrower in accordance with the CD`s pawning contract. Once you`ve pledged, your certificate of deposit continues to earn interest at the rate promised by the lender. As a general rule, the interest rate on your certificate loan is a set percentage higher than the interest rate calculated for your account, z.B. two or three per cent. The only assets of the new borrower are the ———————- project, cash and CDs that the tenant has pledged to him in and in accordance with the CD`s contract of engagement.
If someone else is a co-owner on the certificate of deposit you want to mortgage, they must either have their name on the loan or sign a form allowing you to mortgage the account. Trust account subject to a separate agreement. We respect the terms of a separate agreement that clearly relates to that account and that you submit to us. All the additional and consistent conditions indicated for this purpose also apply. A certificate-guaranteed loan is a type of agreement in which you mortgaged some kind of deposit account to a financial institution in exchange for access to a sum of money. You can use this money to make a bigger purchase, consolidate bills, pay personal expenses or fund higher education. The deposit account you have mortgaged into a certificate credit is called a certificate of deposit. With this type of account, you agree to invest a sum of money with a financial institution for a fixed period and, in exchange, the bank agrees to pay you interest on your money.
SETOFF – You agree that we may compare funds on this account (without notice and to the extent permitted by law) against debts due and payable due to us today or in the future, each of you having the right of withdrawal, to the extent that the right of withdrawal of that person or this legal person exists. If the liability is derived from a note, “any debt due and payable” includes the total amount to which we are entitled to demand payment according to the terms of the note at the time of fixing, including all remaining receivables for which we properly accelerate in accordance with the note. This right of compensation does not apply to the account if: (a) it is an individual pension account or other taxable pension account, or (b) the debt arises from a consumer credit transaction under a credit card plan, or (c) that the debtor`s right of withdrawal arises only on a representative basis.