Terms Used In Montana Code > Title 72 > Chapter 26 > Part 5 - General Provisions

• Conservator: means a person appointed or qualified by a court to act as general, limited, or temporary guardian of a minor's property or a person legally authorized to perform substantially the same functions. See Montana Code 72-26-502
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Court: means district court. See Montana Code 72-26-502
• Custodial property: means :

  (a)any interest in property transferred to a custodian under this chapter; and

  (b)the income from and proceeds of that interest in property. See Montana Code 72-26-502

• Custodian: means a person so designated under 72-26-603 or a successor or substitute custodian designated under 72-26-801. See Montana Code 72-26-502
• Decedent: A deceased person.
• Executor: A male person named in a will to carry out the decedent
• Financial institution: means a bank, trust company, savings institution, or credit union chartered and supervised under state or federal law. See Montana Code 72-26-502
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Minor: means an individual who has not attained the age of 21 years. See Montana Code 72-26-502
• Person: means an individual, corporation, organization, or other legal entity. See Montana Code 72-26-502
• Personal representative: means an executor, administrator, successor personal representative, or special administrator of a decedent's estate or a person legally authorized to perform substantially the same functions. See Montana Code 72-26-502
• Property: means real and personal property. See Montana Code 1-1-205
• State: includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States. See Montana Code 72-26-502
• Transfer: means a transaction that creates custodial property under 72-26-603. See Montana Code 72-26-502
• Transferor: means a person who makes a transfer under this chapter. See Montana Code 72-26-502
• Trust company: means a financial institution, corporation, or other legal entity authorized to exercise general trust powers. See Montana Code 72-26-502
• United States: includes the District of Columbia and the territories. See Montana Code 1-1-201