Montana Code 70-1-323. Future interest — when vested
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70-1-323. Future interest — when vested. A future interest is vested when there is a person in being who would have a right, defeasible or indefeasible, to the immediate possession of the property upon the ceasing of the intermediate or precedent interest.
Terms Used In Montana Code 70-1-323
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
- Property: means real and personal property. See Montana Code 1-1-205