72-14-401. Fiduciary deposit of money when interested person under disability or similar circumstances — receipt as voucher. When property in the hands of a personal representative, trustee, or other fiduciary is assigned or distributed to any heir, legatee, devisee, creditor, beneficiary, or person interested in an estate or trust who does not have an agent in this state or who cannot be found or who refuses to accept the property or to give a proper voucher for the property or to a minor or incompetent person who does not have a legal guardian to receive the property or person authorized to receipt for the property and the property or any part of the property consists of money, the personal representative, trustee, or other fiduciary may deposit the money in a special fund in the name of the heir, legatee, devisee, creditor, beneficiary, or person interested with the county treasurer of the county in which the proceedings are pending or in which the property is located. The county treasurer shall give a receipt for the money and is liable upon the treasurer”s official bond. The receipt must be considered and received by the court or judge as a voucher in favor of the personal representative, trustee, or other fiduciary with the same force and effect as if executed by the heir, legatee, devisee, creditor, beneficiary, or person interested.

Terms Used In Montana Code 72-14-401

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Fiduciary: A trustee, executor, or administrator.
  • 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.
  • Legatee: A beneficiary of a decedent
  • Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
  • Property: means real and personal property. See Montana Code 1-1-205
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
  • Trustee: A person or institution holding and administering property in trust.