Montana Code Annotated 2019

TITLE 72. ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS

CHAPTER 6. NONPROBATE TRANSFERS ON DEATH

Part 4. Uniform Real Property Transfer on Death Act

Definitions

72-6-402. Definitions. As used in this part, the following definitions apply:

(1) "Beneficiary" means a person that receives property under a transfer on death deed.

(2) "Designated beneficiary" means a person designated to receive property in a transfer on death deed.

(3) "Joint owner" means an individual who owns property concurrently with one or more other individuals with a right of survivorship. The term includes a joint tenant. The term does not include a tenant in common.

(4) "Person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity.

(5) "Property" means an interest in real property located in this state which is transferable on the death of the owner.

(6) "Transfer on death deed" means a deed authorized under this part.

(7) "Transferor" means an individual who makes a transfer on death deed.

History: En. Sec. 84, Ch. 313, L. 2019.