Title 72, Title 72

(1) An account may be for a single party or multiple parties. A multiple-party account may be with or without a right of survivorship between the parties. Subject to 72-6-212(3), either a single-party account or a multiple-party account may have a POD designation, an agency desig…

(1) A contract of deposit that contains provisions in substantially the following form establishes the type of account provided, and the account is governed by the provisions of this part applicable to an account of that type: UNIFORM SINGLE- OR MULTIPLE-PARTY ACCOUNT FORM PARTIE…

(1) By a writing signed by all parties, the parties may designate as agent of all parties on an account a person other than a party. (2) Unless the terms of an agency designation provide that the authority of the agent terminates on disability or incapacity of a party, the agent'…

The provisions of 72-6-211 through 72-6-214 and 72-6-216 concerning beneficial ownership as between parties or as between parties and beneficiaries apply only to controversies between those persons and their creditors and other successors and do not apply to the right of those pe…

(1) In this section, "net contribution" of a party means the sum of all deposits to an account made by or for the party, less all payments from the account made to or for the party that have not been paid to or applied to the use of another party and a proportionate share of any …

(1) Except as otherwise provided in this part, on the death of a party, sums on deposit in a multiple-party account belong to the surviving party or parties. If two or more parties survive and one is the surviving spouse of the decedent, the amount to which the decedent, immediat…

(1) Rights at death under 72-6-212 are determined by the terms of the account at the death of a party. (2) Except as provided in subsection (3) and unless otherwise agreed in writing between the parties to the account, the terms of an account may be altered by written notice give…

Except as provided in Title 72, chapter 2, part 2, or as a consequence of and to the extent directed by 72-6-228, a transfer resulting from the application of 72-6-212 is effective by reason of the terms of the account involved and this part and is not testamentary or subject to …

(1) A deposit of community property in an account does not alter the community character of the property or community rights in the property, but a right of survivorship between parties married to each other that arises from the express terms of the account or 72-6-212 may not be…

A financial institution may enter into a contract of deposit for a multiple-party account to the same extent it may enter into a contract of deposit for a single-party account and may provide for a POD designation and an agency designation in either a single-party account or a mu…

A financial institution, on request, may pay sums on deposit in a multiple-party account to: (1) one or more of the parties, whether or not another party is disabled, incapacitated, or deceased when payment is requested and whether or not the party making the request survives ano…

A financial institution, on request, may pay sums on deposit in an account with a POD designation to: (1) one or more of the parties, whether or not another party is disabled, incapacitated, or deceased when the payment is requested and whether or not a party survives another par…

A financial institution, on request of an agent under an agency designation for an account, may pay to the agent sums on deposit in the account, whether or not a party is disabled, incapacitated, or deceased when the request is made or received and whether or not the authority of…

If a financial institution is required or permitted to make payment pursuant to this part to a minor designated as a beneficiary, payment may be made pursuant to the Montana Uniform Transfers to Minors Act, Title 72, chapter 26.

(1) Payment made pursuant to this part in accordance with the terms of an account, or honoring a request for alteration of rights made in accordance with 72-6-213, discharges the financial institution from all claims for amounts so paid or alterations so made, whether or not the …

Without qualifying any other statutory right to setoff or lien and subject to any contractual provision, if a party is indebted to a financial institution, the financial institution has a right to setoff against the account. The amount of the account subject to setoff is either t…

(1) As used in this section, "nonprobate transfer" means a valid transfer effective at death, other than a transfer of a survivorship interest in a joint tenancy of real estate, by a transferor whose last domicile was in this state to the extent that the transferor immediately be…

As used in this part, the following definitions apply: (1) "Beneficiary form" means a registration of a security that indicates the present owner of the security and the intention of the owner regarding the person who will become the owner of the security upon the death of the ow…

Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registered in ben…

(1) A security may be registered in beneficiary form if the form is authorized by this or a similar statute of the state: (a) of organization of the issuer or registering entity; (b) of the location of the registering entity's principal office; (c) of the office of its transfer a…

A security, whether evidenced by certificate or account, is registered in beneficiary form when the registration includes a designation of a beneficiary to take the ownership at the death of the owner or the deaths of all multiple owners.

Registration in beneficiary form may be shown by the words "transfer on death" or the abbreviation "TOD", or by the words "pay on death" or the abbreviation "POD", after the name of the registered owner and before the name of a beneficiary.

The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership until the owner's death. A registration of a security in beneficiary form may be canceled or changed at any time by the sole owner or all then-surviving owners without the consen…

On the death of a sole owner or the last to die of all multiple owners, ownership of securities registered in beneficiary form passes to the beneficiary or beneficiaries who survive all owners. On proof of the death of all owners and compliance with any applicable requirements of…

(1) A registering entity is not required to offer or to accept a request for security registration in beneficiary form. If a registration in beneficiary form is offered by a registering entity, the owner requesting registration in beneficiary form assents to the protections given…

(1) A transfer on death, resulting from a registration in beneficiary form, is effective by reason of the contract regarding the registration between the owner and the registering entity and this part and is not testamentary. (2) This part does not limit the rights of creditors o…

(1) (a) A registering entity offering to accept registrations in beneficiary form may establish the terms and conditions under which it will receive requests for: (i) registrations in beneficiary form; and (ii) implementation of registrations in beneficiary form, including reques…

This part applies to registrations of securities in beneficiary form made before or after October 1, 1993, by decedents dying on or after October 1, 1993.

This part may be cited as the "Uniform Real Property Transfer on Death Act".

As used in this part, the following definitions apply: (1) "Beneficiary" means a person that receives property under a transfer on death deed. (2) "Designated beneficiary" means a person designated to receive property in a transfer on death deed. (3) "Joint owner" means an indivi…

This part does not affect any method of transferring property otherwise permitted under the law of this state.

An individual may transfer property to one or more beneficiaries effective at the transferor's death by a transfer on death deed.

A transfer on death deed is revocable even if the deed or another instrument contains a contrary provision.

A transfer on death deed is nontestamentary.

The capacity required to make or revoke a transfer on death deed is the same as the capacity required to make a will.

A transfer on death deed: (1) except as otherwise provided in subsection (2), must contain the essential elements and formalities of a properly recordable inter vivos deed; (2) must state that the transfer to the designated beneficiary is to occur at the transferor's death; and (…

A transfer on death deed is effective without: (1) notice or delivery to or acceptance by the designated beneficiary during the transferor's life; or (2) consideration.

(1) Subject to subsection (2), an instrument is effective to revoke a recorded transfer on death deed, or any part of it, only if the instrument: (a) is one of the following: (i) a transfer on death deed that revokes the deed or part of the deed expressly or by inconsistency; (ii…

During a transferor's life, a transfer on death deed does not: (1) affect an interest or right of the transferor or any other owner, including the right to transfer or encumber the property; (2) affect an interest or right of a transferee, even if the transferee has actual or con…

(1) Except as otherwise provided in the transfer on death deed, in 72-2-712, 72-2-716, 72-2-813, 72-2-814, 72-6-112, or in this section, and subject to chapter 2, part 2, of this title, on the death of the transferor, the following rules apply to property that is the subject of a…

A beneficiary may disclaim all or part of the beneficiary's interest as provided by 72-2-817 through 72-2-833, the Uniform Disclaimer of Property Interests Act.

A beneficiary of a transfer on death deed is liable for an allowed claim against the transferor's probate estate and statutory allowances to a surviving spouse and children to the extent provided in 72-6-112.

The following form may be used to create a transfer on death deed. The other sections of this part govern the effect of this or any other instrument used to create a transfer on death deed: (front of form) REVOCABLE TRANSFER ON DEATH DEED NOTICE TO OWNER You should carefully read…

The following form may be used to create an instrument of revocation under this part. The other sections of this part govern the effect of this or any other instrument used to revoke a transfer on death deed. (front of form) REVOCATION OF TRANSFER ON DEATH DEED NOTICE TO OWNER Th…

Any beneficiary deed that was executed and recorded prior to October 1, 2019, and which complied with the law in effect when it was recorded, shall be deemed to be a transfer on death deed for the purposes of this part.

If any provision of this code or the application of this code to any person or circumstances is held invalid, the invalidity may not affect other provisions or applications of the code which can be given effect without the invalid provision or application, and to this end the pro…