Montana § 72-7-205 Rules Of Classification

Montana Statutes

§ 72-7-205 — Rules Of Classification

Montana·Title 72 ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS·Ch. 7 UNIFORM POWERS OF APPOINTMENT ACT·Part 2 Creation, Revocation, and Amendment of Power of Appointment

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.

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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.

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