Montana Code > Title 70 > Chapter 3 – Transfer of Personal Property — Gifts
Current as of: 2023 | Check for updates
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Other versions
| Sections | ||
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| Part 1 | General Provisions | § 70-3-101 – § 70-3-104 |
| Part 2 | Gifts in View of Death | § 70-3-201 – § 70-3-205 |
Terms Used In Montana Code > Title 70 > Chapter 3 - Transfer of Personal Property -- Gifts
- Donee: The recipient of a gift.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Legacy: A gift of property made by will.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201