Montana Code 72-7-603. Application to existing relationships
72-7-603. Application to existing relationships. (1) Except as otherwise provided in this act, on and after October 1, 2015:
Terms Used In Montana Code 72-7-603
- Instrument: means a writing. 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
- 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
- Terms of the instrument: means the manifestation of the intent of the maker of the instrument regarding the instrument's provisions as expressed in the instrument or as may be established by other evidence that would be admissible in a legal proceeding. See Montana Code 72-7-102
(a)this act applies to a power of appointment created before, on, or after October 1, 2015;
(b)this act applies to a judicial proceeding concerning a power of appointment commenced on or after October 1, 2015;
(c)this act applies to a judicial proceeding concerning a power of appointment commenced before October 1, 2015, unless the court finds that application of a particular provision of this act would interfere substantially with the effective conduct of the judicial proceeding or prejudice a right of a party, in which case the particular provision of this act does not apply and the superseded law applies;
(d)a rule of construction or presumption provided in this act applies to an instrument executed before October 1, 2015, unless there is a clear indication of a contrary intent in the terms of the instrument; and
(e)except as otherwise provided in subsections (1)(a) through (1)(d), an action done before October 1, 2015, is not affected by this act.
(2)If a right is acquired, extinguished, or barred on the expiration of a prescribed period that commenced under law of this state other than this act before October 1, 2015, the law continues to apply to the right.