Montana § 72-2-1003 When Nonvested Property Interest Or Power Of Appointment Created

Montana Statutes

§ 72-2-1003 — When Nonvested Property Interest Or Power Of Appointment Created

Montana § 72-2-1003

Title 72ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS

Ch. 2UPC -- INTESTACY, WILLS, AND DONATIVE TRANSFERS

Part 10Uniform Statutory Rule Against Perpetuities -- Honorary Trusts

This text of Montana § 72-2-1003 (When Nonvested Property Interest Or Power Of Appointment Created) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 72-2-1003 (2026).

Text

72-2-1003 . When nonvested property interest or power of appointment created.

(1)Except as provided in 72-2-1005 and subsections (2) and (3) of this section, the time of creation of a nonvested property interest or a power of appointment is determined under general principles of property law.

(2)For purposes of this part, if there is a person who alone can exercise a power created by a governing instrument to become the unqualified beneficial owner of a nonvested property interest or a property interest subject to a power of appointment described in 72-2-1002 (2) or (3), the nonvested property interest or power of appointment is created when the power to become the unqualified beneficial owner terminates.

(3)For purposes of this part, a nonvested property interest or a power of appointm

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72-2-1003 . When nonvested property interest or power of appointment created. (1) Except as provided in 72-2-1005 and subsections (2) and (3) of this section, the time of creation of a nonvested property interest or a power of appointment is determined under general principles of property law.
(2) For purposes of this part, if there is a person who alone can exercise a power created by a governing instrument to become the unqualified beneficial owner of a nonvested property interest or a property interest subject to a power of appointment described in 72-2-1002 (2) or (3), the nonvested property interest or power of appointment is created when the power to become the unqualified beneficial owner terminates.
(3) For purposes of this part, a nonvested property interest or a power of appointment arising from a transfer of property to a previously funded trust or other existing property arrangement is created when the nonvested property interest or power of appointment in the original contribution was created.