Montana Code 72-39-223. Obligations
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72-39-223. Obligations. A debt, liability, or other obligation enforceable against property of a first trust is enforceable to the same extent against the property when held by the second trust after exercise of the decanting power.
Terms Used In Montana Code 72-39-223
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Property: means real and personal property. See Montana Code 1-1-205