Get Montana Deed Of Trust

The principal real property security devices in Montana are the contract for deed (or land sales contract), the deed of trust (or trust indenture), and the mortgage.

Deeds of trust are used instead of mortgage loans in these states: Alaska. California. Colorado.

This Deed of Trust is made within the State of Montana pursuant to the Small Tract Financing Act of Montana and is not made or taken in substitution for any mortgage in existence on the effective date of said Act.

What Is A Deed Of Trust? A deed of trust is an agreement between a home buyer and a lender at the closing of a property. The agreement states that the home buyer will repay the home loan and the mortgage lender will hold the property's legal title until the loan is paid in full.

The thing that makes Montana different than any other state is that it has both mortgages and something called a “trust indenture.” The “Small Tract Financing Act of Montana” allows for a trust indenture on tracts of land that are no more 40 acres and, if your mortgage is less than $500,000, you may not need to have an ...

In Montana, the trustee's deed is a type of quitclaim deed, and so contains no warranties of title. The deed names the acting trustee as the grantor, the trust's name and the date of the instrument establishing the trust, and, after recording, transfers title to the grantee.

A Montana deed of trust is a legal document that conveys real estate to a trustee to secure a borrower's obligation to a lender. The trustee, often a title company, escrow, or bank, retains the borrower's title to the property until the loan is repaid.

Deeds of trust are the most common instrument used in the financing of real estate purchases in Alaska, Arizona, California, Colorado, the District of Columbia, Idaho, Maryland, Mississippi, Missouri, Montana, Nebraska, Nevada, North Carolina, Oregon, Tennessee, Texas, Utah, Virginia, Washington, and West Virginia, ...