Montana Code 70-20-105. Joint tenancy — how created
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70-20-105. Joint tenancy — how created. (1) A joint tenancy as to any interest in real property may be established by the owner of the interest by designating in the instrument of conveyance or transfer the names of the joint tenants, including the person‘s own, without the necessity of any transfer or conveyance to or through a third person.
Terms Used In Montana Code 70-20-105
- Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
(2)All joint tenancies created in this manner prior to July 1, 1963, are sufficient in law to create a joint tenancy.