finance

Small Tract Financing Act (Montana)

Montana's statute (MCA 71-1-301 et seq.) allowing a trust indenture, or deed of trust, on property of not more than 40 acres. The trustee holds a power of sale usable after breach. The trustee mails notice of sale at least 120 days before the sale. The borrower may cure before the sale by paying the amount then due plus costs. After a nonjudicial trustee's sale, no deficiency judgment is allowed and statutory redemption rights do not apply; the buyer receives a trustee's deed.