Montana Code > Title 70 > Chapter 15 – Definitions and Kinds of Estates in Real Property

		Sections
Part 1	Real Property Defined Fixtures and Appurtenances	§ 70-15-101 – § 70-15-105
Part 2	Classification of Interests in Real Property	§ 70-15-201 – § 70-15-216
Part 3	Powers	§ 70-15-301 – § 70-15-304

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Terms Used In Montana Code > Title 70 > Chapter 15 - Definitions and Kinds of Estates in Real Property

Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
Dependent: A person dependent for support upon another.
Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
Grantor: The person who establishes a trust and places property into it.
Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
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.
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.
Testator: A male person who leaves a will at death.