Terms Used In Montana Code > Title 82 > Chapter 1 > Part 3 - Trusts for Unlocatable Mineral Owners

• Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Gas: means all natural gases and all other fluid hydrocarbons, including methane gas or any other natural gas found in any coal formation, as produced at the wellhead and not defined as oil in subsection (3). See Montana Code 82-1-111
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Oil: means crude petroleum oil and other hydrocarbons, regardless of gravity, that are produced at the wellhead in liquid form by ordinary production methods and that are not the result of condensation of gas before or after it leaves the reservoir. See Montana Code 82-1-111
• 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: as used in this part , shall mean any individual, corporation, partnership, joint venture, trust or other entity capable of owning real property in Montana. See Montana Code 82-1-301
• Property: means real and personal property. See Montana Code 1-1-205
• Trustee: A person or institution holding and administering property in trust.