72-3-131. Effect of approval of agreements involving trusts, inalienable interests, or interests of third persons. (1) A compromise of any controversy as to admission to probate of any instrument offered for formal probate as the will of a decedent, the construction, validity, or effect of any governing instrument, the rights or interests in the estate of the decedent, of any successor, or the administration of the estate, if approved in a formal proceeding in the court for that purpose, is binding on all the parties to the proceeding, including those unborn, unascertained, or who could not be located.
(2) An approved compromise is binding even though it may affect a trust or an inalienable interest. A compromise does not impair the rights of creditors or of taxing authorities who are not parties to it.
History: En. 91A-3-1101 by Sec. 1, Ch. 365, L. 1974; R.C.M. 1947, 91A-3-1101; amd. Sec. 27, Ch. 592, L. 1995; amd. Sec. 59, Ch. 313, L. 2019.
Structure Montana Code Annotated
Title 72. Estates, Trusts, and Fiduciary Relationships
Chapter 3. Upc -- Probate and Administration
72-3-101. Devolution of estate at death -- restrictions
72-3-102. Necessity of order of probate of will
72-3-103. Necessity of appointment for administration
72-3-104. Claims against decedent -- necessity of administration
72-3-105. Interested persons' rights of application and petition
72-3-106. Interested person's right to demand notice of order or filing
72-3-107. and 72-3-108 reserved
72-3-111. Exclusive jurisdiction of court -- binding nature of orders after notice
72-3-112. Venue for estate proceedings
72-3-114. Conflicting claim as to domicile in another state
72-3-115. through 72-3-120 reserved
72-3-122. Time limit on probate, testacy, and appointment proceedings -- exceptions
72-3-123. Statutes of limitation on decedent's cause of action -- applicability
72-3-124. through 72-3-130 reserved
72-3-132. Procedure for securing court approval of compromise