Mont. Code Ann. » TITLE 71. MORTGAGES, PLEDGES, AND LIENS · CHAPTER 1. MORTGAGES · Part 3. Small Tract Financing
Montana Code Annotated

Mont. Code Ann. § 71-1-312 (2026)

Discontinuance Of Foreclosure Proceedings When Entire Amount Of Default Paid

✓ current as of May 2026
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  1. MCA Contents
  2. TITLE 71
  3. CHAPTER 1
  4. Part 3
  5. 71-1-312 Discontinuance of foreclosure proceedings when entire amount of default paid

TITLE 71. MORTGAGES, PLEDGES, AND LIENS

CHAPTER 1. MORTGAGES

Part 3. Small Tract Financing

Discontinuance Of Foreclosure Proceedings When Entire Amount Of Default Paid

71-1-312. Discontinuance of foreclosure proceedings when entire amount of default paid. (1) Whenever all or a portion of any obligation secured by a trust indenture has, prior to the maturity date fixed in the obligation, become due or been declared due by reason of a breach or default in the performance of any obligation secured by the trust indenture, including a default in the payment of interest or of any installment of principal or by reason of failure of the grantor to pay, in accordance with the terms of the trust indenture, taxes, assessments, premiums for insurance, or advances made by the beneficiary in accordance with the terms of the obligation or of the trust indenture, the grantor or the grantor's successor in interest in the trust property or any part of the trust property or any other person having a subordinate lien or encumbrance of record on the trust property or any beneficiary under a subordinate trust indenture, at any time prior to the time fixed by the trustee for the trustee's sale if the power of sale is to be exercised, may pay to the beneficiary or the beneficiary's successor in interest the entire amount then due under the terms of the trust indenture and the obligation secured by the indenture, including costs and expenses actually incurred and reasonable trustee's fees and attorney fees, other than the portion of the principal that would not then be due if a default had not occurred and cure the existing default.

(2) Upon the payment described in subsection (1), all prior proceedings had or instituted to foreclose the trust indenture must be canceled and the obligation and the trust indenture must be reinstated and remain in force and effect the same as if an acceleration had not occurred.

(3) If the default is cured and the obligation and the trust indenture reinstated in the manner provided, the beneficiary or the beneficiary's assignee shall, on demand of any person having an interest in the trust property, execute, acknowledge, and deliver to the person a request that the trustee execute, acknowledge, and deliver a cancellation of the recorded notice of sale under the trust indenture.

(4) Any beneficiary under a trust indenture or the beneficiary's assignee who, for a period of 30 days after the demand, refuses to request the trustee to execute, acknowledge, and deliver a cancellation is liable to the person entitled to the request for all damages resulting from the refusal.

(5) A cancellation of a recorded notice of sale, when executed and acknowledged, is entitled to be recorded and is sufficient if it sets forth a reference to the trust indenture and the book and page where the indenture is recorded, a reference to the notice of sale and to the book and page where the indenture is recorded, and a statement that the notice of sale is canceled.

History: En. Sec. 12, Ch. 177, L. 1963; R.C.M. 1947, 52-412; amd. Sec. 2250, Ch. 56, L. 2009.

Notes of Decisions
Cited in 11 cases (1 in the last 5 years), 1987–2022 · leading case: Puryer v. HSBC Bank USA, Nat'l Ass'n, 419 P.3d 105 (Mont. 2018).
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Puryer v. HSBC Bank USA, Nat'l Ass'n, 419 P.3d 105 (Mont. 2018). · cites it 7× “at any time prior to the time fixed by the trustee for the trustee's sale if the power of sale is to be exercised, may pay to the beneficiary or the beneficiary's successor in interest the entire amount then due under the terms of the trust indenture and the obligation secured…”
Pilgeram v. Greenpoint Mortg. Funding, Inc., 2013 MT 354 (Mont. 2013). · cites it 2× “”); § 71-1-310, MCA (providing that a title insurer is liable to the beneficiary as stated); § 71-1-312(1), (3), MCA (referencing payments made to the beneficiary)).”
Midfirst Bank, State Sav. Bank v. Ranieri, 848 P.2d 1046 (Mont. 1993). · cites it 8× “Ranieri bases his next argument on § 71-1-312, MCA, which allows the trustee to cancel nonjudicial foreclosure proceedings when the debtor pays the entire amount in arrears.”
In Re Ransom, 361 B.R. 895 (Bankr. D. Mont. 2007). · cites it 4× “An additional statute, MCA § 71-1-312 provides in pertinent part: (1) Whenever all or a portion of any obligation secured by a trust indenture has, prior to the maturity date fixed in such obligation, become due or been declared due by reason of a breach or default in the…”
In Re Van Gordon, 69 B.R. 545 (Bankr. D. Mont. 1987). · cites it 3× “1 I also note that under the Deed of Trust, as provided by Montana law, the defaulted mortgagor may cure the default at any time before sale, and thus reinstate the mortgage, Section 71-1-312, MCA, although the issue in this case is governed by federal law.”
Knucklehead Land Co. v. Accutitle, Inc., 2007 MT 301 (Mont. 2007). “In accomplishing this purpose, the Act prevents abuse of process by providing built-in safeguards, including strict notice requirements and the borrower’s pre-sale right to cure, §§ 71-1-312, 313, MCA, which alleviate the need for imposition of additional trustee duties in order…”
Citizens State Bank v. Ryan, 792 P.2d 1116 (Mont. 1990). · cites it 3× “71-1-315, MCA, regarding notice, posting and publication. The Ryans had a right to pay the successor beneficiary the sums then due under the trust indenture, together with other statutorily required payments in order to cure the existing default.”
Hofman v. HSBC Bank USA, NA ex rel. Nomura Home Equity Loan Inc Asset-backed Certificates (In re Hofman), 488 B.R. 157 (Bankr. D. Mont. 2013). “Knucklehead’s attempt to import the duties of other trustees could well defeat the purpose of the Act by complicating its streamlined process for foreclosure of simple mortgages.”
Wiggins v. Residential Credit, 2016 MT 312N (Mont. 2016). · cites it 2× “¶9 On September 21, 2015, RCS filed a Motion for Summary Judgment, arguing that: 1) RCS was the holder of the Note and recorded beneficiary of the Deed of Trust; 4 2) Wiggins received proper notice of the foreclosure sale; and 3) Wiggins was given the opportunity, but failed, to…”
In Re O'Connor, 413 B.R. 726 (Bankr. D. Mont. 2008). · cites it 2× “This Court wrote in Ransom : Pursuant to MCA §§ 71-1-312 and 71-1-320, when a debtor cures a note obligation secured by a trust indenture through the provisions of 11 U.”
Lavelle Bridges v. Nationstar Mortg. LLC (Ariz. 2022). “Mont. Code Ann. § 71-1-312 (1) (West 2021) (emphasis added).”
Mont. Code Ann. § 71-1-312(1): 2 cases
Puryer v. HSBC Bank USA, Nat'l Ass'n, 419 P.3d 105 (Mont. 2018). “at any time prior to the time fixed by the trustee for the trustee's sale if the power of sale is to be exercised, may pay to the beneficiary or the beneficiary's successor in interest the entire amount then due under the terms of the trust indenture and the obligation secured…”
Pilgeram v. Greenpoint Mortg. Funding, Inc., 2013 MT 354 (Mont. 2013). “”); § 71-1-310, MCA (providing that a title insurer is liable to the beneficiary as stated); § 71-1-312(1), (3), MCA (referencing payments made to the beneficiary)).”
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