HOUSE BILL NO. 283
INTRODUCED BY C. YOUNKIN
AN ACT INCREASING THE VALUE OF SMALL ESTATES FOR WHICH PERSONAL PROPERTY CAN BE COLLECTED BY AFFIDAVIT; AND AMENDING SECTION 72-3-1101, MCA.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:
Section 1. Section 72-3-1101, MCA, is amended to read:
"72-3-1101. Collection of personal property by affidavit. (1) Thirty days after the death of a decedent, any person indebted to the decedent or having possession of tangible personal property or an instrument evidencing a debt, obligation, stock, or chose in action belonging to the decedent shall make payment of the indebtedness or deliver the tangible personal property or an instrument evidencing a debt, obligation, stock, or chose in action to a person claiming to be the successor of the decedent upon being presented an affidavit made by or on behalf of the successor stating that:
(a) the value of the entire estate, wherever located, less liens and encumbrances, does not exceed $7,500 $20,000;
(b) 30 days have elapsed since the death of the decedent;
(c) no application or petition for the appointment of a personal representative is pending or has been granted in any jurisdiction; and
(d) the claiming successor is entitled to payment or delivery of the property.
(2) A transfer agent of any security shall change the registered ownership on the books of a corporation from the decedent to the successor or successors upon the presentation of an affidavit as provided in subsection (1)."
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Latest Version of HB 283 (HB0283.ENR)
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