§ 72-3-601 Time of accrual of duties and powers — power of executor prior to appointment — ratification
§ 72-3-602 Priority among different letters
§ 72-3-603 Notice of appointment to heirs and devisees
§ 72-3-604 Standing to sue
§ 72-3-605 Personal representative to proceed without court order — power to invoke jurisdiction
§ 72-3-606 Possession and protection of estate
§ 72-3-607 Inventory — appraisal
§ 72-3-608 Repealed
§ 72-3-609 Supplemental inventory
§ 72-3-610 General duties — fiduciary
§ 72-3-611 No surcharge for authorized acts generally — limitation
§ 72-3-612 No individual liability — exceptions — certain claims to be brought against personal representative
§ 72-3-613 Transactions authorized for personal representative
§ 72-3-614 Power to recover property that is subject of void or voidable transfer
§ 72-3-615 Transaction involving conflict of interest — voidable — exceptions
§ 72-3-616 Improper exercise of power — breach of fiduciary duty
§ 72-3-617 Order restraining personal representative
§ 72-3-618 Persons dealing with personal representative — protection
§ 72-3-619 Powers of personal representatives in general
§ 72-3-620 reserved
§ 72-3-621 Powers and duties of successor personal representative
§ 72-3-622 Corepresentatives — when joint action required
§ 72-3-623 Persons dealing with single corepresentative — protection
§ 72-3-624 Powers of remaining corepresentative
§ 72-3-631 Compensation of personal representative
§ 72-3-632 Expenses of personal representative in estate litigation
§ 72-3-633 Repealed
§ 72-3-634 Proceedings for review of employment of agents and compensation of personal representatives and employees

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Terms Used In Montana Code > Title 72 > Chapter 3 > Part 6 - Personal Representative Powers, Duties, and Compensation

  • Appraisal: A determination of property value.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Dependent: A person dependent for support upon another.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Executor: A male person named in a will to carry out the decedent
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Fiduciary: A trustee, executor, or administrator.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Intestate: Dying without leaving a will.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Knowingly: means only a knowledge that the facts exist which bring the act or omission within the provisions of this code. See Montana Code 1-1-204
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
  • Probate: Proving a will
  • Property: means real and personal property. See Montana Code 1-1-205
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
  • subscription: includes the mark of a person who cannot write if the person's name is written near the mark by another person who also signs that person's own name as a witness. See Montana Code 1-1-203
  • Third persons: means all persons who are not parties to the obligation or transaction concerning which the phrase is used. See Montana Code 1-1-206
  • Trustee: A person or institution holding and administering property in trust.
  • United States: includes the District of Columbia and the territories. See Montana Code 1-1-201