Montana Code Annotated

Mont. Code Ann. § 71-1-303 (2026)

Definitions

✓ current as of May 2026

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TITLE 71. MORTGAGES, PLEDGES, AND LIENS

CHAPTER 1. MORTGAGES

Part 3. Small Tract Financing

Definitions

71-1-303. Definitions. As used in this part, unless the context requires otherwise, the following definitions apply:

(1) "Beneficiary" means the person named or otherwise designated in a trust indenture as the person for whose benefit a trust indenture is given or the person's successor in interest, who may not be the trustee.

(2) "Grantor" means the person conveying real property by a trust indenture as security for the performance of an obligation.

(3) "Servicer" means a person who collects loan payments on behalf of a beneficiary.

(4) (a) "Title insurance producer" means a person who holds a valid title insurance producer's license and is authorized in writing by a title insurer to:

(i) solicit title insurance business;

(ii) collect rates;

(iii) determine insurability in accordance with underwriting rules and standards of the insurer; or

(iv) issue policies of the title insurer.

(b) Title insurance producer does not include an approved attorney.

(5) "Title insurer" means an insurer formed and authorized under the laws of this state to transact the business of title insurance in this state or a foreign or alien insurer authorized to transact title insurance in this state.

(6) "Trust indenture" means an indenture executed in conformity with this part and conveying real property to a trustee in trust to secure the performance of an obligation of the grantor or other person named in the indenture to a beneficiary.

(7) "Trustee" means a person to whom the legal title to real property is conveyed by a trust indenture or the person's successor in interest.

History: En. Sec. 3, Ch. 177, L. 1963; amd. Sec. 2, Ch. 337, L. 1974; R.C.M. 1947, 52-403(part); amd. Sec. 2, Ch. 114, L. 1989; amd. Sec. 3, Ch. 30, L. 2001; amd. Sec. 1, Ch. 413, L. 2005.

Notes of Decisions

Cited in 3 cases, 1987–2013 · leading case: Pilgeram v. Greenpoint Mortg. Funding, Inc., 2013 MT 354 (Mont. 2013).

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Pilgeram v. Greenpoint Mortg. Funding, Inc., 2013 MT 354 (Mont. 2013). · cites it 39× “Section 71-1-303, MCA. The Lenders argue that MERS received a “benefit” from the DOT even though MERS did not lend the money and has no right to repayment.”

Bergkamp v. New York Guardian Mortgagee Corp., 667 F. Supp. 719 (D. Mont. 1987). · cites it 2× “Mont.Code Ann. § 71-1-305 (1985). The trustee holds legal title to the property.”

Schrammeck v. Fed. Sav. & Loan Ins., 853 P.2d 702 (Mont. 1993). · cites it 4× “We have examined this "deed of trust" and determined that it is a trust indenture as defined in § 71-1-303(4), MCA; therefore, this opinion will refer to it as a trust indenture.”

— Mont. Code Ann. § 71-1-303(1) — 1 case

Pilgeram v. Greenpoint Mortg. Funding, Inc., 2013 MT 354 (Mont. 2013). “Section 71-1-303, MCA. The Lenders argue that MERS received a “benefit” from the DOT even though MERS did not lend the money and has no right to repayment.”

— Mont. Code Ann. § 71-1-303(4) — 1 case

Schrammeck v. Fed. Sav. & Loan Ins., 853 P.2d 702 (Mont. 1993). “We have examined this "deed of trust" and determined that it is a trust indenture as defined in § 71-1-303(4), MCA; therefore, this opinion will refer to it as a trust indenture.”

— Mont. Code Ann. § 71-1-303(5) — 1 case

Bergkamp v. New York Guardian Mortgagee Corp., 667 F. Supp. 719 (D. Mont. 1987). “Mont.Code Ann. § 71-1-305 (1985). The trustee holds legal title to the property.”

— Mont. Code Ann. § 71-1-303(7) — 1 case

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