§ 72-9-110 — Purchaser For Value Or Lender

Montana § 72-9-110

• Jurisdiction: Montana
• Title 72: ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS
• Ch. 9: DISPOSITION OF COMMUNITY PROPERTY RIGHTS AT DEATH
• Part 1: Uniform Disposition of Community Property Rights at Death

Text

72-9-110 . Purchaser for value or lender. (1) If a surviving spouse has apparent title to property to which this part applies, a purchaser for value or a lender taking a security interest in the property takes the purchaser's or lender's interest in the property free of any rights of the personal representative or an heir or devisee, as those terms are defined in 72-1-103 , of the decedent.
(2) If a personal representative or an heir or devisee of the decedent has apparent title to property to which this part applies, a purchaser for value or a lender taking a security interest in the property takes the purchaser's or lender's interest in the property free of any rights of the surviving spouse.
(3) A purchaser for value or a lender need not inquire whether a vendor or borrower acted properly.
(4) The proceeds of a sale or creation of a security interest must be treated in the same manner as the property transferred to the purchaser for value or a lender.

Legislative History

En. Sec. 7, Ch. 395, L. 1989; Sec. 72-6-110 , MCA 1991; redes. 72-9-110 by Code Commissioner, 1993; amd. Sec. 2441, Ch. 56, L. 2009.