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

Mont. Code Ann. § 71-1-315 (2026)

Notice -- Sale -- Payment

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  1. MCA Contents
  2. TITLE 71
  3. CHAPTER 1
  4. Part 3
  5. 71-1-315 Notice -- sale -- payment

TITLE 71. MORTGAGES, PLEDGES, AND LIENS

CHAPTER 1. MORTGAGES

Part 3. Small Tract Financing

Notice -- Sale -- Payment

71-1-315. Notice -- sale -- payment. A trust deed may be foreclosed by advertisement and sale in the following manner:

(1) The trustee shall give notice of the sale in the following manner:

(a) At least 120 days before the date fixed for the trustee's sale, a copy of the recorded notice of sale must be mailed by certified mail to:

(i) the grantor, at the grantor's address as set forth in the trust indenture or if the grantor's address is not set forth in the trust indenture at the grantor's last-known address;

(ii) each person designated in the trust indenture to receive notice of sale whose address is set forth in the trust indenture, at that address;

(iii) each person who has filed for record a request for a copy of notice of sale within the time and in the manner provided in this section, at the address of the person as set forth in the request;

(iv) any successor in interest to the grantor whose interest and address appear of record at the filing date and time of the notice of sale, at that address;

(v) any person who has a lien or interest subsequent to the interest of the trustee and whose lien or interest and address appear of record at the filing date and time of the notice of sale, at that address.

(b) At least 20 days before the date fixed for the trustee's sale, a copy of the recorded notice of sale must be posted in some conspicuous place on the property to be sold. Upon request of the trustee, the notice of sale must be posted by a sheriff or constable of the county in which the property to be sold is located.

(c) A copy of the notice of sale must be published in a newspaper of general circulation published in any county in which the property or some part of the property is situated, at least once each week for 3 successive weeks. If there is no newspaper of general circulation published in the county, then copies of the notice of sale must be posted in at least three public places in each county in which the property or some part of the property is situated. The posting or the last publication must be made at least 20 days before the date fixed for the trustee's sale.

(2) On or before the date of sale, there must be recorded in the office of the clerk and recorder of each county where the property or some part of the property is situated, affidavits of mailing, posting, and publication showing compliance with the requirements of this section.

(3) On the date and at the time and place designated in the notice of sale, the trustee or the trustee's attorney shall sell the property at public auction to the highest bidder. The property may be sold in one parcel or in separate parcels, and any person, including the beneficiary under the trust indenture but excluding the trustee, may bid at the sale. The person making the sale may, for any cause the person considers expedient, postpone the sale for a period not exceeding 15 days by public proclamation at the time and place fixed in the notice of sale. No other notice of the postponed sale need be given. If a sale cannot be held at the scheduled time by reason of the automatic stay provision of the United States Bankruptcy Code, 11 U.S.C. 362, or of a stay order issued by any court of competent jurisdiction, the person making the sale may, as often as the person considers expedient, postpone the sale. Each postponement may not exceed 30 days, and all postponements, in the aggregate, may not exceed 120 days. Each postponement must be effected by a public proclamation at the time and place fixed in the notice of sale or fixed by previous postponement. No other notice of the postponed sale need be given.

(4) The purchaser at the sale shall pay the price bid in cash, and upon receipt of payment, the trustee shall execute and deliver a trustee's deed to the purchaser. If the purchaser refuses to pay the purchase price, the person conducting the sale has the right to resell the property at any time to the highest bidder. The party refusing to pay is liable for any loss occasioned by the refusal, and the person making the sale may also reject any other bid of the refusing person.

History: Ap. p. Sec. 8, Ch. 177, L. 1963; Sec. 52-408, R.C.M. 1947; (1) thru (4)En. Sec. 9, Ch. 177, L. 1963; amd. Sec. 1, Ch. 53, L. 1977; Sec. 52-409, R.C.M. 1947; R.C.M. 1947, 52-408(2), 52-409; amd. Sec. 1, Ch. 55, L. 1983; amd. Sec. 1, Ch. 212, L. 1991; amd. Sec. 2251, Ch. 56, L. 2009.

Notes of Decisions
Cited in 15 cases (2 in the last 5 years), 1981–2023 · leading case: Pilgeram v. Greenpoint Mortg. Funding, Inc., 2013 MT 354, 313 P.3d 839.
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Pilgeram v. Greenpoint Mortg. Funding, Inc., 2013 MT 354, 313 P.3d 839. · cites it 6× “); Joseph, 2012 U.S. Dist. LEXIS 97869 at * 35 (“No ‘contrary intention clearly appears’ in the STFA that would preclude the lender from designating an agent to act on the lender’s behalf to exercise all pertinent authority of a beneficiary under the trust indenture.”
Rocky Mountain Bank v. Stuart, 928 P.2d 243 (Mont. 1996). · cites it 23× “” Section 71-1-315(4), MCA. The Bank maintains that the STFA permitted it, as the trust indenture beneficiary, to pay the price bid by applying the amount of its bid to Stuart’s outstanding indebtedness.”
JAS, Inc. v. Eisele, 2016 MT 33, 367 P.3d 330. · cites it 24× “The Trustee held a second sale, however, of which Bell was given proper notice.”
Pennell v. Nationstar, 2022 MT 235, 520 P.3d 796. · cites it 19× “District Court for the District of Montana has, on more than one occasion, ruled that an indenture trustee may delegate its duties under § 71-1-315, MCA. See Joseph v. Bank of Am.”
Terry L. Bell Generations Trust v. Flathead Bank, 2013 MT 152, 302 P.3d 390. · cites it 42× ““Every such instrument [deeds of trust, trust deeds, or trust indentures], recorded as prescribed by law, from the time it is filed for record is constructive notice of its contents to subsequent purchasers and encumbrancers.”
Knucklehead Land Co. v. Accutitle, Inc., 2007 MT 301, 172 P.3d 116. · cites it 3× “” Section 71-1-315(3), MCA. The trustee is also charged with disposing of the proceeds of the sale and is thereafter “discharged from all further responsibility.”
Jas, Inc. v. Eisele, 2014 MT 77, 321 P.3d 113. · cites it 5× “1 Section 71-1-315, MCA, requires that an Affidavit of Mailing be filed on or before the date of a Trustee’s Sale.”
Midfirst Bank v. Ranieri, 848 P.2d 1046 (Mont. 1993). · cites it 2× “A straightforward reading of the statute mandates our conclusion that the term “shall” in subsection (3), and throughout the remainder of § 71-1-315, MCA, merely describes the requisite procedures a trustee must follow if a sale is held.”
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). · cites it 3× “” Section 71-1-315(3), MCA. The trustee is also charged with disposing of the proceeds of the sale and is thereafter “discharged from all further responsibility.”
Ruby Valley Nat'l Bank v. Wells Fargo Delaware Trust Co., 2014 MT 16, 317 P.3d 174. “See §§ 71-1-315(1)(a)(i),(v), -222(3), MCA. “A valid foreclosure of a mortgage terminates all interests in the foreclosed real estate that are junior to the mortgage being foreclosed and whose holders are properly joined or notified under applicable law.”
McLouth v. Advanta Mortg. Corp. (In Re McLouth), 268 B.R. 244 (D. Mont. 2001). · cites it 6× “MontCode Ann. § 71-1-315 (1999) sets forth the procedure for conducting a trustee’s sale.”
In re McLouth, 257 B.R. 316 (Bankr. D. Mont. 2000). · cites it 4× “Section 71 — 1— 315 sets forth the procedure for the sale: (3) On the date and at the time and place designated in the notice of sale, the trustee or his attorney shall sell the property at public auction to the highest bidder.”
Show all 15 citing cases →
Mont. Code Ann. § 71-1-315(1): 2 cases
Pennell v. Nationstar, 2022 MT 235, 520 P.3d 796. “District Court for the District of Montana has, on more than one occasion, ruled that an indenture trustee may delegate its duties under § 71-1-315, MCA. See Joseph v. Bank of Am.”
In re McLouth, 257 B.R. 316 (Bankr. D. Mont. 2000). “Section 71 — 1— 315 sets forth the procedure for the sale: (3) On the date and at the time and place designated in the notice of sale, the trustee or his attorney shall sell the property at public auction to the highest bidder.”
Mont. Code Ann. § 71-1-315(1)(a): 1 case
JAS, Inc. v. Eisele, 2016 MT 33, 367 P.3d 330. “The Trustee held a second sale, however, of which Bell was given proper notice.”
Mont. Code Ann. § 71-1-315(1)(a)(i): 1 case
Ruby Valley Nat'l Bank v. Wells Fargo Delaware Trust Co., 2014 MT 16, 317 P.3d 174. “See §§ 71-1-315(1)(a)(i),(v), -222(3), MCA. “A valid foreclosure of a mortgage terminates all interests in the foreclosed real estate that are junior to the mortgage being foreclosed and whose holders are properly joined or notified under applicable law.”
Mont. Code Ann. § 71-1-315(1)(a)(iv): 1 case
JAS, Inc. v. Eisele, 2016 MT 33, 367 P.3d 330. “The Trustee held a second sale, however, of which Bell was given proper notice.”
Mont. Code Ann. § 71-1-315(1)(a)(v): 1 case
Terry L. Bell Generations Trust v. Flathead Bank, 2013 MT 152, 302 P.3d 390. ““Every such instrument [deeds of trust, trust deeds, or trust indentures], recorded as prescribed by law, from the time it is filed for record is constructive notice of its contents to subsequent purchasers and encumbrancers.”
Mont. Code Ann. § 71-1-315(1)(b): 1 case
Pennell v. Nationstar, 2022 MT 235, 520 P.3d 796. “District Court for the District of Montana has, on more than one occasion, ruled that an indenture trustee may delegate its duties under § 71-1-315, MCA. See Joseph v. Bank of Am.”
Mont. Code Ann. § 71-1-315(2): 2 cases
JAS, Inc. v. Eisele, 2016 MT 33, 367 P.3d 330. “The Trustee held a second sale, however, of which Bell was given proper notice.”
Jas, Inc. v. Eisele, 2014 MT 77, 321 P.3d 113. “1 Section 71-1-315, MCA, requires that an Affidavit of Mailing be filed on or before the date of a Trustee’s Sale.”
Mont. Code Ann. § 71-1-315(3): 8 cases
Pilgeram v. Greenpoint Mortg. Funding, Inc., 2013 MT 354, 313 P.3d 839. “); Joseph, 2012 U.S. Dist. LEXIS 97869 at * 35 (“No ‘contrary intention clearly appears’ in the STFA that would preclude the lender from designating an agent to act on the lender’s behalf to exercise all pertinent authority of a beneficiary under the trust indenture.”
Knucklehead Land Co. v. Accutitle, Inc., 2007 MT 301, 172 P.3d 116. “” Section 71-1-315(3), MCA. The trustee is also charged with disposing of the proceeds of the sale and is thereafter “discharged from all further responsibility.”
Pennell v. Nationstar, 2022 MT 235, 520 P.3d 796. “District Court for the District of Montana has, on more than one occasion, ruled that an indenture trustee may delegate its duties under § 71-1-315, MCA. See Joseph v. Bank of Am.”
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). “” Section 71-1-315(3), MCA. The trustee is also charged with disposing of the proceeds of the sale and is thereafter “discharged from all further responsibility.”
Lauf v. Selene Fin., L.P., No. 1:22-cv-00067 (D. Mont. June 22, 2023).
Mont. Code Ann. § 71-1-315(4): 3 cases
Rocky Mountain Bank v. Stuart, 928 P.2d 243 (Mont. 1996). “” Section 71-1-315(4), MCA. The Bank maintains that the STFA permitted it, as the trust indenture beneficiary, to pay the price bid by applying the amount of its bid to Stuart’s outstanding indebtedness.”
McLouth v. Advanta Mortg. Corp. (In Re McLouth), 268 B.R. 244 (D. Mont. 2001). “MontCode Ann. § 71-1-315 (1999) sets forth the procedure for conducting a trustee’s sale.”
In re McLouth, 257 B.R. 316 (Bankr. D. Mont. 2000). “Section 71 — 1— 315 sets forth the procedure for the sale: (3) On the date and at the time and place designated in the notice of sale, the trustee or his attorney shall sell the property at public auction to the highest bidder.”
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