Montana Statutes
§ 72-7-311 — Disposition Of Unappointed Property Under Released Or Unexercised Nongeneral Power
Montana·Title 72 ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS·Ch. 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. 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.
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Montana § 72-7-311 (Disposition Of Unappointed Property Under Released Or Unexercised Nongeneral Power) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
En. Sec. 21, Ch. 293, L. 2015.
Nearby Sections
15
§ 72-7-101
Short Title§ 72-7-102
Definitions§ 72-7-103
Governing Law§ 72-7-104
Common Law And Principles Of Equity§ 72-7-201
Creation Of Power Of Appointment§ 72-7-202
Nontransferability§ 72-7-203
Presumption Of Unlimited Authority§ 72-7-205
Rules Of Classification§ 72-7-206
Power To Revoke Or Amend§ 72-7-305
Permissible Appointment