Because the financing of homes and business expansion is essential to the development of the state of Montana and because financing of homes and business expansion, usually involving areas of real estate of not more than 40 acres, has been restricted by the laws relating to mortgages of real property and because more financing of homes and business expansion is available if the parties can use security instruments and procedures not subject to all the provisions of the mortgage laws, it is the public policy of the state of Montana to permit the use of trust indentures for estates in real property of not more than 40 acres as provided in this part.
Mont. Code Ann. § 71-1-302
Policy
Known as the Small Tract Financing Act
The act spans §§ 71–71 (21 sections).
Applied in 1 court decision — leading case First Bank of Lincoln v. Land Title of Nez Perce County (2019)
Most recently applied in First Bank of Lincoln v. Land Title of Nez Perce County (November 2019)
En
Official source: Montana Code Annotated (Montana Legislature). Reproduced from public-domain Montana statutes; confirm against the official source for the current text. Not legal advice.