Montana Code 72-2-1004. Reformation
72-2-1004. Reformation. Upon the petition of an interested person, a court shall reform a disposition in the manner that most closely approximates the transferor’s manifested plan of distribution and that is within the 90 years allowed by 72-2-1002(1)(b), (2)(b), or (3)(b) if:
Terms Used In Montana Code 72-2-1004
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- 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
(1)a nonvested property interest or a power of appointment becomes invalid under 72-2-1002;
(2)a class gift is not but might become invalid under 72-2-1002 and the time has arrived when the share of any class member is to take effect in possession or enjoyment; or
(3)a nonvested property interest that is not validated by 72-2-1002(1)(a) can vest but not within 90 years after its creation.