Owners

• Naturally, the owner of the CD has a legal right to it at all times. However, keep in mind that cashing in your CD before the maturity date will likely mean the forfeit of any interest earned since opening it, or any earned since the last maturity date if it is a rollover.
  
  

Survivors

• If you own a CD jointly with another party, and one of you passes away, the joint owner has a legal right to the CD. Depending on your individual institution, the survivor may cash in the CD before it matures without incurring a penalty, such as forfeiting any interest earned.
  
  

Guardians

• Finally, guardians of the legally incompetent or of minors may have a legal right to access and make changes to a CD. This does not mean they are owners of the CD; merely that they can use it as they see fit for the benefit of their wards.