70-20-115. Notice to purchaser of property under contract for deed. (1) As used in this section, "purchaser under contract for deed" means:
(a) any person who:
(i) has entered into a contract with the record owner of real property in which it was agreed that the record owner will deliver the deed to the property to the purchaser when certain conditions have been met, such as completion of payments by the purchaser; and
(ii) has recorded the contract or an abstract of the contract in accordance with Title 70, chapter 21;
(b) any assignee or successor of a person included under subsection (1)(a), if such assignee or successor has also recorded the contract or an abstract of the contract in accordance with Title 70, chapter 21.
(2) When it is required by statute that legal notice be given to the owner of real property, the same notice must be given to a purchaser of that property under a contract for deed.
History: En. Sec. 1, Ch. 526, L. 1983.
Structure Montana Code Annotated
Chapter 20. Transfer of Real Property
70-20-101. Transfer to be in writing -- statute of frauds
70-20-102. Exceptions to statute of frauds
70-20-104. Words of inheritance unnecessary
70-20-105. Joint tenancy -- how created
70-20-108. Attorney-in-fact -- how to execute for principal
70-20-109. Change of owner's name after acquisition -- later conveyance to include former name
70-20-110. Redelivery or cancellation of grant -- no retransfer
70-20-111. and 70-20-112 reserved
70-20-115. Notice to purchaser of property under contract for deed