A trust indenture is deemed to be a mortgage on real property and is subject to all laws relating to mortgages on real property except to the extent that such laws are inconsistent with the provisions of this part, in which event the provisions of this part shall control. For the purpose of applying the mortgage laws, the grantor in a trust indenture is deemed the mortgagor and the beneficiary is deemed the mortgagee.
Mont. Code Ann. § 71-1-305
Trust indenture considered to be mortgage on real property
Known as the Small Tract Financing Act
The act spans §§ 71–71 (21 sections).
Applied in 1 court decision — leading case 667 F. Supp. 719 - Bergkamp v. New York Guardian Mortgagee Corp. (1987)
Most recently applied in 667 F. Supp. 719 - Bergkamp v. New York Guardian Mortgagee Corp. (August 1987)
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.