§ 70-1-301 Interests in real property specially named elsewhere
§ 70-1-302 Ownership — absolute or qualified
§ 70-1-303 When ownership absolute
§ 70-1-304 When ownership qualified
§ 70-1-305 Ownership by single person
§ 70-1-306 Ownership by several persons — types
§ 70-1-307 Joint interest defined
§ 70-1-308 Safe deposit box — joint tenancy
§ 70-1-309 Repealed
§ 70-1-310 Action by or against joint tenants or tenants in common
§ 70-1-311 Repealed
§ 70-1-312 Partnership interest defined
§ 70-1-313 Interest in common defined
§ 70-1-314 Interest in common — how created
§ 70-1-315 Interest as to time of enjoyment
§ 70-1-316 Present interest — to what entitles owner
§ 70-1-317 Future interest — to what entitles owner
§ 70-1-318 What future interests recognized
§ 70-1-319 Mere possibility not an interest
§ 70-1-320 Perpetual interest — duration
§ 70-1-321 Limited interest — duration
§ 70-1-322 Kinds of future interests
§ 70-1-323 Future interest — when vested
§ 70-1-324 Future interest — when contingent
§ 70-1-325 Two or more alternative future interests
§ 70-1-326 Future interests — how passed
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Terms Used In Montana Code > Title 70 > Chapter 1 > Part 3 - Kinds of Ownership Interests

  • Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • 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
  • Several: means two or more. See Montana Code 1-1-201