reglab/statecodes huggingface dataset:
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 3. Uniform TOD Security Registration Act › 72-6-301. Definitions

72-6-301. Definitions.
As used in this part, the following definitions apply:
(1) "Beneficiary form" means a registration of a security that indicates the present owner of the security and the intention of the owner regarding the person who will become the owner of the security upon the death of the owner.
(2) "Register", including its derivatives, means to issue a certificate showing the ownership of a certificated security or, in the case of an uncertificated security, to initiate or transfer an account showing ownership of securities.
(3) "Registering entity" means a person who originates or transfers a security title by registration and includes a broker maintaining security accounts for customers and a transfer agent or other person acting for or as an issuer of securities.
(4) "Security" means a share, participation, or other interest in property, in a business, or in an obligation of an enterprise or other issuer and includes a certificated security, an uncertificated security, and a security account.
(5) "Security account" means:
(a) a reinvestment account associated with a security, a securities account with a broker, a cash balance in a brokerage account, cash, cash equivalents, interest, earnings, or dividends earned or declared on a security in an account, a reinvestment account, or a brokerage account, whether or not credited to the account before the owner's death;
(b) a cash balance or other property held for or due to the owner of a security as a replacement for or product of an account security, whether or not credited to the account before the owner's death; or
(c) an investment management or custody account with a trust company or trust division of a bank with trust powers, including the securities in the account, a cash balance in the account, and cash, cash equivalents, interest, earnings, or dividends earned or declared on a security in the account, whether or not credited to the account before the owner's death.
History: En. Sec. 103, Ch. 494, L. 1993; amd. Sec. 1, Ch. 76, L. 2005.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 3. Uniform TOD Security Registration Act › 72-6-302. Registration in beneficiary form -- sole or joint tenancy ownership

72-6-302. Registration in beneficiary form -- sole or joint tenancy ownership.
Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registered in beneficiary form hold as joint tenants with right of survivorship, as tenants by the entireties, or as owners of community property held in survivorship form and not as tenants in common.
History: En. Sec. 104, Ch. 494, L. 1993.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 3. Uniform TOD Security Registration Act › 72-6-303. Registration in beneficiary form -- applicable law

72-6-303. Registration in beneficiary form -- applicable law.
(1) A security may be registered in beneficiary form if the form is authorized by this or a similar statute of the state:
(a) of organization of the issuer or registering entity;
(b) of the location of the registering entity's principal office;
(c) of the office of its transfer agent or its office making the registration; or
(d) listed as the owner's address at the time of registration.
(2) A registration governed by the law of a jurisdiction in which this or similar legislation is not in force or was not in force when a registration in beneficiary form was made is nevertheless presumed to be valid and authorized as a matter of contract law.
History: En. Sec. 105, Ch. 494, L. 1993.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 3. Uniform TOD Security Registration Act › 72-6-304. Origination of registration in beneficiary form

72-6-304. Origination of registration in beneficiary form.
A security, whether evidenced by certificate or account, is registered in beneficiary form when the registration includes a designation of a beneficiary to take the ownership at the death of the owner or the deaths of all multiple owners.
History: En. Sec. 106, Ch. 494, L. 1993.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 3. Uniform TOD Security Registration Act › 72-6-305. Form of registration in beneficiary form

72-6-305. Form of registration in beneficiary form.
Registration in beneficiary form may be shown by the words "transfer on death" or the abbreviation "TOD", or by the words "pay on death" or the abbreviation "POD", after the name of the registered owner and before the name of a beneficiary.
History: En. Sec. 107, Ch. 494, L. 1993.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 3. Uniform TOD Security Registration Act › 72-6-306. Effect of registration in beneficiary form

72-6-306. Effect of registration in beneficiary form.
The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership until the owner's death. A registration of a security in beneficiary form may be canceled or changed at any time by the sole owner or all then-surviving owners without the consent of the beneficiary.
History: En. Sec. 108, Ch. 494, L. 1993.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 3. Uniform TOD Security Registration Act › 72-6-307. Ownership on death of owner

72-6-307. Ownership on death of owner.
On the death of a sole owner or the last to die of all multiple owners, ownership of securities registered in beneficiary form passes to the beneficiary or beneficiaries who survive all owners. On proof of the death of all owners and compliance with any applicable requirements of the registering entity, a security registered in beneficiary form may be reregistered in the name of the beneficiary or beneficiaries who survived the death of all owners. Until division of the security after the death of all owners, multiple beneficiaries surviving the death of all owners hold their interests as tenants in common. If no beneficiary survives the death of all owners, the security belongs to the estate of the deceased sole owner or the estate of the last to die of all multiple owners.
History: En. Sec. 109, Ch. 494, L. 1993.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 3. Uniform TOD Security Registration Act › 72-6-308. Protection of registering entity

72-6-308. Protection of registering entity.
(1) A registering entity is not required to offer or to accept a request for security registration in beneficiary form. If a registration in beneficiary form is offered by a registering entity, the owner requesting registration in beneficiary form assents to the protections given to the registering entity by this part.
(2) By accepting a request for registration of a security in beneficiary form, the registering entity agrees that the registration will be implemented on the death of the deceased owner as provided in this part.
(3) (a) A registering entity is discharged from all claims to a security by the estate, creditors, heirs, or devisees of a deceased owner if it registers a transfer of the security in accordance with 72-6-307 and does so in good faith reliance on:
(i) the registration;
(ii) this part; and
(iii) information provided to it by affidavit of the personal representative of the deceased owner, or by the surviving beneficiary or by the surviving beneficiary's representatives, or other information available to the registering entity.
(b) The protections of this part do not extend to a reregistration or payment made after a registering entity has received written notice from any claimant to any interest in the security objecting to implementation of a registration in beneficiary form. No other notice or other information available to the registering entity affects its right to protection under this part.
(4) The protection provided by this part to the registering entity of a security does not affect the rights of beneficiaries in disputes between themselves and other claimants to ownership of the security transferred or its value or proceeds.
History: En. Sec. 110, Ch. 494, L. 1993.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 3. Uniform TOD Security Registration Act › 72-6-309. Nontestamentary transfer on death

72-6-309. Nontestamentary transfer on death.
(1) A transfer on death, resulting from a registration in beneficiary form, is effective by reason of the contract regarding the registration between the owner and the registering entity and this part and is not testamentary.
(2) This part does not limit the rights of creditors of security owners against beneficiaries and other transferees under other laws of this state.
History: En. Sec. 111, Ch. 494, L. 1993.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 3. Uniform TOD Security Registration Act › 72-6-310. Terms, conditions, and forms for registration

72-6-310. Terms, conditions, and forms for registration.
(1) (a) A registering entity offering to accept registrations in beneficiary form may establish the terms and conditions under which it will receive requests for:
(i) registrations in beneficiary form; and
(ii) implementation of registrations in beneficiary form, including requests for cancellation of previously registered TOD beneficiary designations and requests for reregistration to effect a change of beneficiary.
(b) The terms and conditions so established may provide for proving death, avoiding or resolving any problems concerning fractional shares, designating primary and contingent beneficiaries, and substituting a named beneficiary's descendants to take in the place of the named beneficiary in the event of the beneficiary's death. Substitution may be indicated by appending to the name of the primary beneficiary the letters LDPS, standing for "lineal descendants per stirpes". This designation substitutes a deceased beneficiary's descendants who survive the owner for a beneficiary who fails to so survive, the descendants to be identified and to share in accordance with the law of the beneficiary's domicile at the owner's death that governs inheritance by descendants of an intestate. Other forms of identifying beneficiaries who are to take on one or more contingencies, and rules for providing proofs and assurances needed to satisfy reasonable concerns by registering entities regarding conditions and identities relevant to accurate implementation of registrations in beneficiary form, may be contained in a registering entity's terms and conditions.
(2) The following are illustrations of registrations in beneficiary form that a registering entity may authorize:
(a) sole owner-sole beneficiary: John S. Brown TOD (or POD) John S. Brown Jr.;
(b) multiple owners-sole beneficiary: John S. Brown Mary B. Brown JT TEN TOD John S. Brown Jr.;
(c) multiple owners-primary and secondary (substituted) beneficiaries: John S. Brown Mary B. Brown JT TEN TOD John S. Brown Jr. SUB BENE Peter Q. Brown or John S. Brown Mary B. Brown JT TEN TOD John S. Brown Jr. LDPS.
History: En. Sec. 112, Ch. 494, L. 1993.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 3. Uniform TOD Security Registration Act › 72-6-311. Application of part

72-6-311. Application of part.
This part applies to registrations of securities in beneficiary form made before or after October 1, 1993, by decedents dying on or after October 1, 1993.
History: En. Sec. 131, Ch. 494, L. 1993.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 4. Uniform Real Property Transfer on Death Act › 72-6-401. Short title

72-6-401. Short title.
This part may be cited as the "Uniform Real Property Transfer on Death Act".
History: En. Sec. 83, Ch. 313, L. 2019.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 4. Uniform Real Property Transfer on Death Act › 72-6-402. 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.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 4. Uniform Real Property Transfer on Death Act › 72-6-403. Nonexclusivity

72-6-403. Nonexclusivity.
This part does not affect any method of transferring property otherwise permitted under the law of this state.
History: En. Sec. 86, Ch. 313, L. 2019.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 4. Uniform Real Property Transfer on Death Act › 72-6-404. Transfer on death deed authorized

72-6-404. Transfer on death deed authorized.
An individual may transfer property to one or more beneficiaries effective at the transferor's death by a transfer on death deed.
History: En. Sec. 87, Ch. 313, L. 2019.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 4. Uniform Real Property Transfer on Death Act › 72-6-405. Transfer on death deed revocable

72-6-405. Transfer on death deed revocable.
A transfer on death deed is revocable even if the deed or another instrument contains a contrary provision.
History: En. Sec. 88, Ch. 313, L. 2019.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 4. Uniform Real Property Transfer on Death Act › 72-6-406. Transfer on death deed nontestamentary

72-6-406. Transfer on death deed nontestamentary.
A transfer on death deed is nontestamentary.
History: En. Sec. 89, Ch. 313, L. 2019.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 4. Uniform Real Property Transfer on Death Act › 72-6-407. Capacity of transferor

72-6-407. Capacity of transferor.
The capacity required to make or revoke a transfer on death deed is the same as the capacity required to make a will.
History: En. Sec. 90, Ch. 313, L. 2019.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 4. Uniform Real Property Transfer on Death Act › 72-6-408. Requirements

72-6-408. Requirements.
A transfer on death deed:
(1) except as otherwise provided in subsection (2), must contain the essential elements and formalities of a properly recordable inter vivos deed;
(2) must state that the transfer to the designated beneficiary is to occur at the transferor's death; and
(3) must be recorded before the transferor's death in the public records in the office of the county clerk and recorder of the county where the property is located.
History: En. Sec. 91, Ch. 313, L. 2019.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 4. Uniform Real Property Transfer on Death Act › 72-6-409. Notice, delivery, acceptance, consideration not required

72-6-409. Notice, delivery, acceptance, consideration not required.
A transfer on death deed is effective without:
(1) notice or delivery to or acceptance by the designated beneficiary during the transferor's life; or
(2) consideration.
History: En. Sec. 92, Ch. 313, L. 2019.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 4. Uniform Real Property Transfer on Death Act › 72-6-410. Revocation by instrument authorized -- revocation by act not permitted

72-6-410. Revocation by instrument authorized -- revocation by act not permitted.
(1) Subject to subsection (2), an instrument is effective to revoke a recorded transfer on death deed, or any part of it, only if the instrument:
(a) is one of the following:
(i) a transfer on death deed that revokes the deed or part of the deed expressly or by inconsistency;
(ii) an instrument of revocation that expressly revokes the deed or part of the deed;
(iii) an inter vivos deed that expressly revokes the transfer on death deed or part of the deed; and
(b) is acknowledged by the transferor after the acknowledgment of the deed being revoked and recorded before the transferor's death in the public records in the office of the county clerk and recorder of the county where the deed is recorded.
(2) If a transfer on death deed is made by more than one transferor:
(a) revocation by a transferor does not affect the deed as to the interest of another transferor; and
(b) a deed of joint owners is revoked only if it is revoked by all of the living joint owners.
(3) After a transfer on death deed is recorded, it may not be revoked by a revocatory act on the deed.
(4) This section does not limit the effect of an inter vivos transfer of the property, which revokes any prior transfer on death deed to the property.
History: En. Sec. 93, Ch. 313, L. 2019.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 4. Uniform Real Property Transfer on Death Act › 72-6-411. Effect of transfer on death deed during transferor's life

72-6-411. Effect of transfer on death deed during transferor's life.
During a transferor's life, a transfer on death deed does not:
(1) affect an interest or right of the transferor or any other owner, including the right to transfer or encumber the property;
(2) affect an interest or right of a transferee, even if the transferee has actual or constructive notice of the deed;
(3) affect an interest or right of a secured or unsecured creditor or future creditor of the transferor, even if the creditor has actual or constructive notice of the deed;
(4) affect the transferor's or designated beneficiary's eligibility for any form of public assistance;
(5) create a legal or equitable interest in favor of the designated beneficiary; or
(6) subject the property to claims or process of a creditor of the designated beneficiary.
History: En. Sec. 94, Ch. 313, L. 2019.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 4. Uniform Real Property Transfer on Death Act › 72-6-412. Effect of transfer on death deed at transferor's death

72-6-412. Effect of transfer on death deed at transferor's death.
(1) Except as otherwise provided in the transfer on death deed, in 72-2-712, 72-2-716, 72-2-813, 72-2-814, 72-6-112, or in this section, and subject to chapter 2, part 2, of this title, on the death of the transferor, the following rules apply to property that is the subject of a transfer on death deed and owned by the transferor at death:
(a) Subject to subsection (1)(b), the interest in the property is transferred to the designated beneficiary in accordance with the deed.
(b) The interest of a designated beneficiary is contingent on the designated beneficiary surviving the transferor. The interest of a designated beneficiary that fails to survive the transferor lapses.
(c) Subject to subsection (1)(d), concurrent interests are transferred to the beneficiaries in equal and undivided shares with no right of survivorship.
(d) If the transferor has identified two or more designated beneficiaries to receive concurrent interests in the property, the share of one which lapses or fails for any reason is transferred to the other, or to the others in proportion to the interest of each in the remaining part of the property held concurrently.
(2) Subject to Title 70, chapter 21, a beneficiary takes the property subject to all conveyances, encumbrances, assignments, contracts, mortgages, liens, and other interests to which the property is subject at the transferor's death. For purposes of this subsection and Title 70, chapter 21, the recording of the transfer on death deed is deemed to have occurred at the transferor's death.
(3) If a transferor is a joint owner and is:
(a) survived by one or more other joint owners, the property that is the subject of a transfer on death deed belongs to the surviving joint owner or owners with right of survivorship; or
(b) the last surviving joint owner, the transfer on death deed is effective.
(4) A transfer on death deed transfers property without covenant or warranty of title even if the deed contains a contrary provision.
History: En. Sec. 95, Ch. 313, L. 2019; amd. Sec. 1, Ch. 143, L. 2021.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 4. Uniform Real Property Transfer on Death Act › 72-6-413. Disclaimer

72-6-413. Disclaimer.
A beneficiary may disclaim all or part of the beneficiary's interest as provided by 72-2-817 through 72-2-833, the Uniform Disclaimer of Property Interests Act.
History: En. Sec. 96, Ch. 313, L. 2019.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 4. Uniform Real Property Transfer on Death Act › 72-6-414. Liability for creditor claims and statutory allowances

72-6-414. Liability for creditor claims and statutory allowances.
A beneficiary of a transfer on death deed is liable for an allowed claim against the transferor's probate estate and statutory allowances to a surviving spouse and children to the extent provided in 72-6-112.
History: En. Sec. 97, Ch. 313, L. 2019.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 4. Uniform Real Property Transfer on Death Act › 72-6-416. Optional form of revocation

72-6-416. Optional form of revocation.
The following form may be used to create an instrument of revocation under this part. The other sections of this part govern the effect of this or any other instrument used to revoke a transfer on death deed.
(front of form)
REVOCATION OF TRANSFER ON DEATH DEED
NOTICE TO OWNER
This revocation must be recorded before you die or it will not be effective. This revocation is effective only as to the interests in the property of owners who sign this revocation.
IDENTIFYING INFORMATION
Owner or Owners of Property Making This Revocation:
Printed name
Mailing address
Printed name
Mailing address
Legal description of the property:
REVOCATION
I revoke all my previous transfers of this property by transfer on death deed.
SIGNATURE OF OWNER OR OWNERS MAKING THIS REVOCATION
Signature
Date
Signature
Date
ACKNOWLEDGMENT
(insert acknowledgment here)
(back of form)
COMMON QUESTIONS ABOUT THE USE OF THIS FORM
How do I use this form to revoke a Transfer on Death (TOD) deed? Complete this form. Have it acknowledged before a notary public or other individual authorized to take acknowledgments. Record the form in the public records in the office of the county clerk and recorder of each county where the property is located. The form must be acknowledged and recorded before your death or it has no effect.
How do I find the "legal description" of the property? This information may be on the TOD deed. It may also be available in the office of the county clerk and recorder for the county where the property is located. If you are not absolutely sure, consult a lawyer.
How do I "record" the form? Take the completed and acknowledged form to the office of the county clerk and recorder of deeds of the county where the property is located. Follow the instructions given by the county clerk and recorder to make the form part of the official property records. If the property is located in more than one county, you should record the form in each of those counties.
I am being pressured to complete this form. What should I do? Do not complete this form under pressure. Seek help from a trusted family member, friend, or lawyer.
I have other questions about this form. What should I do? This form is designed to fit some but not all situations. If you have other questions, consult a lawyer.
History: En. Sec. 99, Ch. 313, L. 2019; amd. Sec. 3, Ch. 143, L. 2021.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 4. Uniform Real Property Transfer on Death Act › 72-6-417. Prior executed and recorded beneficiary deed

72-6-417. Prior executed and recorded beneficiary deed.
Any beneficiary deed that was executed and recorded prior to October 1, 2019, and which complied with the law in effect when it was recorded, shall be deemed to be a transfer on death deed for the purposes of this part.
History: En. Sec. 100, Ch. 313, L. 2019.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 6. Nonprobate Transfers on Death › Part 4. Uniform Real Property Transfer on Death Act › 72-6-418. Severability

72-6-418. Severability.
If any provision of this code or the application of this code to any person or circumstances is held invalid, the invalidity may not affect other provisions or applications of the code which can be given effect without the invalid provision or application, and to this end the provisions of this code are declared to be severable.
History: En. Sec. 2, Ch. 313, L. 2019.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 1. General Provisions › 72-7-101. Short title

72-7-101. Short title.
This chapter may be cited as the "Uniform Powers of Appointment Act".
History: En. Sec. 1, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 1. General Provisions › 72-7-103. Governing law

72-7-103. Governing law.
Unless the terms of the instrument creating a power of appointment manifest a contrary intent:
(1) the creation, revocation, or amendment of the power is governed by the law of the donor's domicile at the relevant time; and
(2) the exercise, release, or disclaimer of the power or the revocation or amendment of the exercise, release, or disclaimer of the power is governed by the law of the powerholder's domicile at the relevant time.
History: En. Sec. 3, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 1. General Provisions › 72-7-104. Common law and principles of equity

72-7-104. Common law and principles of equity.
The common law and principles of equity supplement this act, except to the extent modified by this act or a law of this state other than this act.
History: En. Sec. 4, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 2. Creation, Revocation, and Amendment of Power of Appointment › 72-7-201. Creation of power of appointment

72-7-201. Creation of power of appointment.
(1) A power of appointment is created only if:
(a) the instrument creating the power:
(i) is valid under applicable law; and
(ii) except as otherwise provided in subsection (2), transfers the appointive property; and
(b) the terms of the instrument creating the power manifest the donor's intent to create in a powerholder a power of appointment over the appointive property exercisable in favor of a permissible appointee.
(2) Subsection (1)(a)(ii) does not apply to the creation of a power of appointment by the exercise of a power of appointment.
(3) A power of appointment may not be created in a deceased individual.
(4) Subject to an applicable rule against perpetuities, a power of appointment may be created in an unborn or unascertained powerholder.
History: En. Sec. 5, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 2. Creation, Revocation, and Amendment of Power of Appointment › 72-7-202. Nontransferability

72-7-202. Nontransferability.
A powerholder may not transfer a power of appointment. If a powerholder dies without exercising or releasing a power, the power lapses.
History: En. Sec. 6, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 2. Creation, Revocation, and Amendment of Power of Appointment › 72-7-203. Presumption of unlimited authority

72-7-203. Presumption of unlimited authority.
Subject to 72-7-204 and unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is:
(1) presently exercisable;
(2) exclusionary; and
(3) except as otherwise provided in 72-7-204, general.
History: En. Sec. 7, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 2. Creation, Revocation, and Amendment of Power of Appointment › 72-7-204. Exception to presumption of unlimited authority

72-7-204. Exception to presumption of unlimited authority.
Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is nongeneral if:
(1) the power is exercisable only at the powerholder's death; and
(2) the permissible appointees of the power are a defined and limited class that does not include the powerholder's estate, the powerholder's creditors, or the creditors of the powerholder's estate.
History: En. Sec. 8, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 2. Creation, Revocation, and Amendment of Power of Appointment › 72-7-205. Rules of classification

72-7-205. Rules of classification.
(1) In this section, "adverse party" means a person with a substantial beneficial interest in property that would be affected adversely by a powerholder's exercise or nonexercise of a power of appointment in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate.
(2) If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral.
(3) If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary.
History: En. Sec. 9, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 2. Creation, Revocation, and Amendment of Power of Appointment › 72-7-206. Power to revoke or amend

72-7-206. Power to revoke or amend.
A donor may revoke or amend a power of appointment only to the extent that:
(1) the instrument creating the power is revocable by the donor; or
(2) the donor reserves a power of revocation or amendment in the instrument creating the power of appointment.
History: En. Sec. 10, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 3. Exercise of Power of Appointment › 72-7-301. Requisites for exercise of power of appointment

72-7-301. Requisites for exercise of power of appointment.
(1) A power of appointment is exercised only:
(a) if the instrument exercising the power is valid under applicable law;
(b) if the terms of the instrument exercising the power:
(i) manifest the powerholder's intent to exercise the power; and
(ii) subject to 72-7-304, satisfy the requirements of exercise, if any, imposed by the donor; and
(c) to the extent the appointment is a permissible exercise of the power.
(2) Notwithstanding any other provision of this act, the property subject to a power of appointment may not pass to and may not be administered as a part of the powerholder's probate estate unless:
(a) the power of appointment is a general one that expressly authorizes the powerholder to appoint the appointive property to his or her own estate; and
(b) the powerholder utilizes clear and unequivocal language demonstrating a specific intent to exercise the power in favor of his or her own estate.
History: En. Sec. 11, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 3. Exercise of Power of Appointment › 72-7-302. Intent to exercise -- determining intent from residuary clause

72-7-302. Intent to exercise -- determining intent from residuary clause.
(1) In this section:
(a) "Residuary clause" does not include a residuary clause containing a blanket-exercise clause or a specific-exercise clause.
(b) "Will" includes a codicil and a testamentary instrument that revises another will.
(2) A residuary clause in a powerholder's will or a comparable clause in the powerholder's revocable trust manifests the powerholder's intent to exercise a power of appointment only if:
(a) the terms of the instrument containing the residuary clause do not manifest a contrary intent;
(b) the power is a general power exercisable in favor of the powerholder's estate;
(c) there is no gift-in-default clause or the clause is ineffective; and
(d) the powerholder did not release the power.
History: En. Sec. 12, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 3. Exercise of Power of Appointment › 72-7-303. Intent to exercise -- after-acquired power

72-7-303. Intent to exercise -- after-acquired power.
Unless the terms of the instrument exercising a power of appointment manifest a contrary intent:
(1) except as otherwise provided in subsection (2), a blanket-exercise clause extends to a power acquired by the powerholder after executing the instrument containing the clause; and
(2) if the powerholder is also the donor of the power, the clause does not extend to the power unless there is no gift-in-default clause or the gift-in-default clause is ineffective.
History: En. Sec. 13, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 3. Exercise of Power of Appointment › 72-7-304. Substantial compliance with donor-imposed formal requirement

72-7-304. Substantial compliance with donor-imposed formal requirement.
A powerholder's substantial compliance with a formal requirement of appointment imposed by the donor, including a requirement that the instrument exercising the power of appointment make reference or specific reference to the power, is sufficient if:
(1) the powerholder knows of and intends to exercise the power; and
(2) the powerholder's manner of attempted exercise of the power does not impair a material purpose of the donor in imposing the requirement.
History: En. Sec. 14, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 3. Exercise of Power of Appointment › 72-7-305. Permissible appointment

72-7-305. Permissible appointment.
(1) A powerholder of a general power of appointment that permits appointment to the powerholder or the powerholder's estate may make any appointment, including an appointment in trust or creating a new power of appointment, that the powerholder could make in disposing of the powerholder's own property.
(2) A powerholder of a general power of appointment that permits appointment only to the creditors of the powerholder or of the powerholder's estate may appoint only to those creditors.
(3) Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the powerholder of a nongeneral power may:
(a) make an appointment in any form, including an appointment in trust, in favor of a permissible appointee;
(b) create a general power in a permissible appointee;
(c) create a nongeneral power in any person to appoint to one or more of the permissible appointees of the original nongeneral power; or
(d) create a nongeneral power in a permissible appointee to appoint to one or more persons if the permissible appointees of the new nongeneral power include the permissible appointees of the original nongeneral power.
History: En. Sec. 15, Ch. 293, L. 2015; amd. Sec. 1, Ch. 200, L. 2019.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 3. Exercise of Power of Appointment › 72-7-306. Appointment to deceased appointee or permissible appointee's descendant

72-7-306. Appointment to deceased appointee or permissible appointee's descendant.
(1) Subject to the antilapse provisions of 72-2-613, an appointment to a deceased appointee is ineffective.
(2) Unless the terms of the instrument creating a power of appointment manifest a contrary intent, a powerholder of a nongeneral power may exercise the power in favor of or create a new power of appointment in a descendant of a deceased permissible appointee whether or not the descendant is described by the donor as a permissible appointee.
History: En. Sec. 16, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 3. Exercise of Power of Appointment › 72-7-307. Impermissible appointment

72-7-307. Impermissible appointment.
(1) Except as otherwise provided in 72-7-306, an exercise of a power of appointment in favor of an impermissible appointee is ineffective.
(2) An exercise of a power of appointment in favor of a permissible appointee is ineffective to the extent the appointment is a fraud on the power.
History: En. Sec. 17, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 3. Exercise of Power of Appointment › 72-7-308. Selective allocation doctrine

72-7-308. Selective allocation doctrine.
If a powerholder exercises a power of appointment in a disposition that also disposes of property the powerholder owns, the owned property and the appointive property must be allocated in the permissible manner that best carries out the powerholder's intent.
History: En. Sec. 18, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 3. Exercise of Power of Appointment › 72-7-309. Capture doctrine -- disposition of ineffectively appointed property under general power

72-7-309. Capture doctrine -- disposition of ineffectively appointed property under general power.
To the extent a powerholder of a general power of appointment, other than a power to withdraw property from, revoke, or amend a trust, makes an ineffective appointment:
(1) the gift-in-default clause controls the disposition of the ineffectively appointed property; or
(2) if there is no gift-in-default clause or to the extent the clause is ineffective, the ineffectively appointed property:
(a) passes to:
(i) the powerholder if the powerholder is a permissible appointee and living; or
(ii) if the powerholder is an impermissible appointee or deceased, the powerholder's estate if the estate is a permissible appointee; or
(b) if there is no taker under subsection (2)(a), passes under a reversionary interest to the donor or the donor's transferee or successor in interest.
History: En. Sec. 19, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 3. Exercise of Power of Appointment › 72-7-310. Disposition of unappointed property under released or unexercised general power

72-7-310. Disposition of unappointed property under released or unexercised general power.
To the extent a powerholder releases or fails to exercise a general power of appointment, other than a power to withdraw property from, revoke, or amend a trust:
(1) the gift-in-default clause controls the disposition of the unappointed property; or
(2) if there is no gift-in-default clause or to the extent the clause is ineffective:
(a) except as otherwise provided in subsection (2)(b), the unappointed property passes to:
(i) the powerholder if the powerholder is a permissible appointee and living; or
(ii) if the powerholder is an impermissible appointee or deceased, the powerholder's estate if the estate is a permissible appointee; or
(b) to the extent the powerholder released the power or if there is no taker under subsection (2)(a), the unappointed property passes under a reversionary interest to the donor or the donor's transferee or successor in interest.
History: En. Sec. 20, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 3. Exercise of Power of Appointment › 72-7-311. Disposition of unappointed property under released or unexercised nongeneral power

72-7-311. Disposition of unappointed property under released or unexercised nongeneral power.
To the extent a powerholder releases, ineffectively exercises, or fails to exercise a nongeneral power of appointment:
(1) the gift-in-default clause controls the disposition of the unappointed property; or
(2) if there is no gift-in-default clause or to the extent the clause is ineffective, the unappointed property:
(a) passes to the permissible appointees if:
(i) the permissible appointees are defined and limited; and
(ii) the terms of the instrument creating the power do not manifest a contrary intent; or
(b) if there is no taker under subsection (2)(a), passes under a reversionary interest to the donor or the donor's transferee or successor in interest.
History: En. Sec. 21, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 3. Exercise of Power of Appointment › 72-7-312. Disposition of unappointed property if partial appointment to taker in default

72-7-312. Disposition of unappointed property if partial appointment to taker in default.
Unless the terms of the instrument creating or exercising a power of appointment manifest a contrary intent, if the powerholder makes a valid partial appointment to a taker in default of appointment, the taker in default of appointment may share fully in unappointed property.
History: En. Sec. 22, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 3. Exercise of Power of Appointment › 72-7-313. Appointment to taker in default

72-7-313. Appointment to taker in default.
If a powerholder makes an appointment to a taker in default of appointment and the appointee would have taken the property under a gift-in-default clause had the property not been appointed, the power of appointment is deemed not to have been exercised and the appointee takes under the default clause.
History: En. Sec. 23, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 3. Exercise of Power of Appointment › 72-7-314. Powerholder's authority to revoke or amend exercise

72-7-314. Powerholder's authority to revoke or amend exercise.
A powerholder may revoke or amend an exercise of a power of appointment only to the extent that:
(1) the powerholder reserves a power of revocation or amendment in the instrument exercising the power of appointment and, if the power is nongeneral, the terms of the instrument creating the power of appointment do not prohibit the reservation; or
(2) the terms of the instrument creating the power of appointment provide that the exercise is revocable or amendable.
History: En. Sec. 24, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 4. Disclaimer on Release -- Contract to Appoint or Not to Appoint › 72-7-401. Disclaimer

72-7-401. Disclaimer.
As provided by 72-2-825 and 72-2-826:
(1) a powerholder may disclaim all or part of a power of appointment; and
(2) a permissible appointee, appointee, or taker in default of appointment may disclaim all or part of an interest in appointive property.
History: En. Sec. 25, Ch. 293, L. 2015; amd. Sec. 101, Ch. 313, L. 2019.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 4. Disclaimer on Release -- Contract to Appoint or Not to Appoint › 72-7-402. Authority to release

72-7-402. Authority to release.
A powerholder may release a power of appointment in whole or in part, except to the extent the terms of the instrument creating the power prevent the release.
History: En. Sec. 26, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 4. Disclaimer on Release -- Contract to Appoint or Not to Appoint › 72-7-403. Method of release

72-7-403. Method of release.
A powerholder of a releasable power of appointment may release the power in whole or in part:
(1) by substantial compliance with a method provided in the terms of the instrument creating the power; or
(2) if the terms of the instrument creating the power do not provide a method or the method provided in the terms of the instrument is not expressly made exclusive, by a writing manifesting the powerholder's intent by clear and convincing evidence.
History: En. Sec. 27, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 4. Disclaimer on Release -- Contract to Appoint or Not to Appoint › 72-7-404. Revocation or amendment of release

72-7-404. Revocation or amendment of release.
A powerholder may revoke or amend a release of a power of appointment only to the extent that:
(1) the instrument of release is revocable by the powerholder; or
(2) the powerholder reserves a power of revocation or amendment in the instrument of release.
History: En. Sec. 28, Ch. 293, L. 2015.
2023 Montana Code Annotated › Title 72. Estates, Trusts, and Fiduciary Relationships › Chapter 7. Uniform Powers of Appointment Act › Part 4. Disclaimer on Release -- Contract to Appoint or Not to Appoint › 72-7-405. Power to contract -- presently exercisable power of appointment

72-7-405. Power to contract -- presently exercisable power of appointment.
A powerholder of a presently exercisable power of appointment may contract:
(1) not to exercise the power; or
(2) to exercise the power if the contract when made does not confer a benefit on an impermissible appointee.
History: En. Sec. 29, Ch. 293, L. 2015.