Terms Used In Montana Code > Title 72 > Chapter 7 > Part 4 - Disclaimer on Release -- Contract to Appoint or Not to Appoint

• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Appointee: means a person to which a powerholder makes an appointment of appointive property. See Montana Code 72-7-102
• Appointive property: means the property or property interest subject to a power of appointment. See Montana Code 72-7-102
• Contract: A legal written agreement that becomes binding when signed.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• 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
• Powerholder: means a person in whom a donor creates a power of appointment. See Montana Code 72-7-102
• Presently exercisable power of appointment: means a power of appointment exercisable by the powerholder at the relevant time. See Montana Code 72-7-102
• Property: means real and personal property. See Montana Code 1-1-205
• Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
• Taker in default of appointment: means a person who takes all or part of the appointive property to the extent the powerholder does not effectively exercise the power of appointment. See Montana Code 72-7-102
• 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
• Writing: includes printing. See Montana Code 1-1-203