Montana Code 72-38-401. Methods of creating trust
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72-38-401. Methods of creating trust. A trust may be created by:
Terms Used In Montana Code 72-38-401
- Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government, governmental subdivision, agency, or instrumentality, public corporation, or any other legal or commercial entity. See Montana Code 72-38-103
- Property: means anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest therein. See Montana Code 72-38-103
- Settlor: means a person, including a testator, who creates or contributes property to a trust. See Montana Code 72-38-103
- Trustee: A person or institution holding and administering property in trust.
- Trustee: includes an original, additional, and successor trustee and a cotrustee. See Montana Code 72-38-103
(1)transfer of property to a person as trustee during the settlor‘s lifetime or by will or other disposition taking effect upon the settlor’s death;
(2)declaration by the owner of property that the owner holds identifiable property as trustee; or
(3)exercise of a power of appointment in favor of a trustee.