Montana Code 72-7-401. Disclaimer
Current as of: 2023 | Check for updates
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72-7-401. Disclaimer. As provided by 72-2-825 and 72-2-826:
Terms Used In Montana Code 72-7-401
- Appointee: means a person to which a powerholder makes an appointment of appointive property. See Montana Code 72-7-102
- Appointive property: means the property or property interest subject to a power of appointment. See Montana Code 72-7-102
- Power of appointment: means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over the appointive property. See Montana Code 72-7-102
- Powerholder: means a person in whom a donor creates a power of appointment. See Montana Code 72-7-102
- Taker in default of appointment: means a person who takes all or part of the appointive property to the extent the powerholder does not effectively exercise the power of appointment. See Montana Code 72-7-102
(1)a powerholder may disclaim all or part of a power of appointment; and
(2)a permissible appointee, appointee, or taker in default of appointment may disclaim all or part of an interest in appointive property.