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Montana Renunciation and Disclaimer of Real Property Interest

State:
Montana
Control #:
MT-05-03
Format:
Word; 
Rich Text
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Description

This form is a Renunciation and Disclaimer of a Real Property Interest acquired by the beneficiary. In this form, upon the death of the decedent, the beneficiary gains an interest in the described real property, but, pursuant to the Montana Code, Title 72, Chapter 2, Part 8, the beneficiary chooses to disclaim his/her entire interest in the real property. The beneficiary also attests that the disclaimer will be filed no later than nine months after the death of the decedent in order to secure the validity of the disclaimer. The disclaimer also includes a state specific acknowledgment and a certificate to verify delivery.


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FAQ

What is a Deed of Disclaimer? A Deed of Disclaimer is a document that you can execute if you wish to Disclaim an inheritance due via the Rules of Intestacy and you are not applying for probate. A typical example of this is if a spouse of a deceased would prefer the estate passes to the children.

A beneficiary of a trust may wish to disclaim their interest in the trust for:Any disclaimer of an interest in a trust by a trust beneficiary must be made to the trustee of that trust. For a disclaimer to be valid, it must be supported by some evidence that the beneficiary is disclaiming their interest.

Disclaim, in a legal sense, refers to the renunciation of an interest in, or an acceptance of, inherited assets, such as property, by way of a legal instrument. A person disclaiming an interest, right, or obligation is known as a disclaimant.

In law, a disclaimer is a statement denying responsibility intended to prevent civil liability arising for particular acts or omissions. Disclaimers are frequently made to escape the effects of the torts of negligence and of occupiers' liability towards visitors.

Jointly owned property is treated as consisting of a both present and a future interest in the jointly owned property. Thus, a surviving spouse may disclaim the future interest in jointly owned property on the death of their spouse, including assets that were held by the spouses as tenants by the entirety.

1a : a denial or disavowal of legal claim : relinquishment of or formal refusal to accept an interest or estate. b : a writing that embodies a legal disclaimer. 2a : denial, disavowal. b : repudiation.

Property owned in joint tenancy automatically passes, without probate, to the surviving owner(s) when one owner dies. Setting up a joint tenancy is easy, and it doesn't cost a penny.

Disclaimer of interest, in the law of inheritance, wills and trusts, is a term that describes an attempt by a person to renounce their legal right to benefit from an inheritance (either under a will or through intestacy) or through a trust. A disclaimer of interest is irrevocable.

Yes, a fiduciary can disclaim an interest in property if the will, trust or power of attorney gives the fiduciary that authority or if the appropriate probate court authorizes the disclaimer.The primary reason an executor or trustee might disclaim property passing to an estate or trust is to save death taxes.

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Montana Renunciation and Disclaimer of Real Property Interest