70-15-212. Future and contingent estates — how created. Subject to the rules of parts 1, 3, and 4 of chapter 1, parts 1 and 2 of this chapter, and part 1 of chapter 17:

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Terms Used In Montana Code 70-15-212

  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.

(1)a freehold estate, as well as a chattel real, may be created to commence at a future day;

(2)an estate for life may be created in a term of years and a remainder limited thereon;

(3)a remainder of a freehold or chattel real, either contingent or vested, may be created, expectant on the determination of a term of years; and

(4)a fee may be limited on a fee upon a contingency which, if it should occur, must happen within the period prescribed in this code.

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