Joint Account
An account with two or more individuals acting as co-owners.

Joint Tenant
Type of ownership of property by two or more persons in which each owns an undivided interest in the whole. Upon the death of a joint tenant, the deceased owner's interest passes outside of probate directly to the remaining joint tenant(s).

Joint Tenants with Rights of Survivorship (JTWROS)
A joint account which allows the remaining tenant(s) to retain the deceased tenant's interest in the account.

Junk Bond
Bonds rated BB or below by Standard & Poor's Corporation and Ba or below by Moody's Investor Service. Junk bonds tend to be more volatile and higher yielding than bonds with higher quality ratings.

Junk Bond Fund
A fund that invests primarily in lower rated bonds (BB or below by Standard & Poor's Corporation and Ba or below by Moody's Investor Service), also referred to as junk bonds. Junk bond funds generally seek high returns and tend to be one of the riskier bond fund investments.

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