When a trust indenture executed in conformity with this part is foreclosed by advertisement and sale, other or further action, suit, or proceedings may not be taken or judgment entered for any deficiency against the grantor or the grantor's surety, guarantor, or successor in interest, if any, on the note, bond, or other obligation secured by the trust indenture or against any other person obligated on the note, bond, or other obligation.
Mont. Code Ann. § 71-1-317
Deficiency judgment not allowed
Known as the Small Tract Financing Act
The act spans §§ 71–71 (21 sections).
Applied in 3 court decisions — leading case 199 W. Va. 349 - Fayette County National Bank v. Lilly (1997)
Most recently applied in First Bank of Lincoln v. Land Title of Nez Perce County (November 2019)
En
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
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.