Montana Code 72-2-237. Surviving spouse’s property and nonprobate transfers to others
72-2-237. Surviving spouse’s property and nonprobate transfers to others. (1) Except to the extent included in the augmented estate under 72-2-234 or 72-2-236, the value of the augmented estate includes the value of:
Terms Used In Montana Code 72-2-237
- 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
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
(a)property that was owned by the decedent‘s surviving spouse at the decedent’s death, including:
(i)the surviving spouse’s fractional interest in property held in joint tenancy with the right of survivorship;
(ii)the surviving spouse’s ownership interest in property or accounts held in co-ownership registration with the right of survivorship; and
(iii)property that passed to the surviving spouse by reason of the decedent’s death, but not including the spouse’s right to homestead allowance, family allowance, exempt property, or payments under the federal social security system; and
(b)property that would have been included in the surviving spouse’s nonprobate transfers to others, other than the spouse’s fractional and ownership interests included under subsection (1)(a)(i) or (1)(a)(ii), had the spouse been the decedent.
(2)Property included under this section is valued at the decedent’s death, taking the fact that the decedent predeceased the spouse into account, but, for purposes of subsection (1)(a)(i) and (1)(a)(ii), the values of the spouse’s fractional and ownership interests are determined immediately before the decedent’s death if the decedent was then a joint tenant or a co-owner of the property or accounts.
(3)The value of property included under this section is reduced by enforceable claims against the surviving spouse.