§ 70-15-201 Application of classifications
§ 70-15-202 Enumeration of estates
§ 70-15-203 Fee simple
§ 70-15-204 Estates tail abolished — considered fee simple
§ 70-15-205 Remainder limited upon fee tail valid — vesting
§ 70-15-206 Freehold estates — chattels real — chattel interests
§ 70-15-207 Estate for life of third person — freehold
§ 70-15-208 Term of years — suspension of absolute ownership
§ 70-15-209 Future estate — right of possession at future day
§ 70-15-210 Reversion
§ 70-15-211 Remainder
§ 70-15-212 Future and contingent estates — how created
§ 70-15-213 Remainder upon a contingency
§ 70-15-214 Remainder not upon a contingency — when to take effect
§ 70-15-215 Remainder to heirs of tenant for life — effect of
§ 70-15-216 When vesting of future estate not prevented by power of appointment
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Terms Used In Montana Code > Title 70 > Chapter 15 > Part 2 - Classification of Interests 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).
  • 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
  • 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.