Montana Code 72-7-308. Selective allocation doctrine
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72-7-308. Selective allocation doctrine. If a powerholder exercises a power of appointment in a disposition that also disposes of property the powerholder owns, the owned property and the appointive property must be allocated in the permissible manner that best carries out the powerholder’s intent.
Terms Used In Montana Code 72-7-308
- Appointive property: means the property or property interest subject to a power of appointment. See Montana Code 72-7-102
- Power of appointment: means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over the appointive property. See Montana Code 72-7-102
- Powerholder: means a person in whom a donor creates a power of appointment. See Montana Code 72-7-102
- Property: means real and personal property. See Montana Code 1-1-205