Montana

Easy, convenient standard Mortgage Forms for real estate property in Montana.

 

Licensing and registration of mortgage brokers, lenders, and loan originators in Montana is governed by the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act). A mortgage loan originator is defined as anyone who takes a residential mortgage application, or offers or negotiates terms of a residential mortgage loan.

All persons involved in making or negotiating residential mortgages must be registered with the Nationwide Mortgage Licensing System (NMLS).

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Montana Deed of Trust

This Montana Deed of Trust form conveys a real estate property from a seller to a trustee instead of a purchaser, under the Small Tract Financing Act.

  • A Deed of Trust is often used instead of a mortgage in the sale and purchase of real property other than agricultural farm land.
  • Title to the property is conveyed by the seller to a trustee instead of to the purchaser. The title is then held as security to ensure the purchaser's performance of its obligations (including payment of the purchase price, maintenance and upkeep of the property, payment of taxes, etc).
  • If the purchaser defaults in payment, the balance becomes due and payable and the trustee may sell the property.
  • The Deed of Trust contains uniform covenants regarding payments, funds for taxes and insurance, prior mortgages, hazard insurance, occupancy as principal residence, care and maintenance of the property, protection of the lender's security, and other standard clauses.
  • The property must not exceed 40 acres in area.
  • The form includes a Waiver of Homestead Exemption Rights in accordance with State law.
  • Available in MS Word format.
  • Intended to be used only in the State of Montana.
$19.99