What types of property are recognized under Montana law?
There are two basic types of property real and personal. Real property is land and whatever is erected, growing on or affixed to it. Examples of real property include fences, buildings, water systems (unless removable), mineral deposits and standing uncut timber. Personal property refers to assets whose ownership arises either out of physical possession of the property, or as the result of a document showing ownership. In Montana , all property except real property is personal property. Examples of personal property include livestock, machinery, stored grain, stocks and bonds, checking and savings accounts, automobiles and other transportation and recreational vehicles.
