§ 72-16-501 Interest of decedent terminated upon death
§ 72-16-502 Definition of decedent
§ 72-16-503 Filings required when holder of nonprobate interest in real property has died
§ 72-16-504 Repealed
§ 72-16-505 Repealed
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Terms Used In Montana Code > Title 72 > Chapter 16 > Part 5 - Joint Tenancies and Life Estates Determination of Tax -- Termination

  • 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.
  • Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
  • 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
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Real property: means lands, tenements, hereditaments, and possessory title to public lands. 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.