Montana Code 72-16-501. Interest of decedent terminated upon death
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72-16-501. Interest of decedent terminated upon death. The interest of the decedent in property held in joint tenancy terminates upon death.
Terms Used In Montana Code 72-16-501
- Decedent: A deceased person.
- 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.
- Property: means real and personal property. See Montana Code 1-1-205