71-1-317. Deficiency judgment not allowed. When a trust indenture executed in conformity with this part is foreclosed by advertisement and sale, other or further action, suit, or proceedings may not be taken or judgment entered for any deficiency against the grantor or the grantor's surety, guarantor, or successor in interest, if any, on the note, bond, or other obligation secured by the trust indenture or against any other person obligated on the note, bond, or other obligation.
History: En. Sec. 14, Ch. 177, L. 1963; R.C.M. 1947, 52-414; amd. Sec. 2252, Ch. 56, L. 2009.
Structure Montana Code Annotated
Title 71. Mortgages, Pledges, and Liens
71-1-304. Trust indentures authorized -- power of sale for breach in trustee
71-1-305. Trust indenture considered to be mortgage on real property
71-1-306. Qualifications of trustee -- successor trustee
71-1-307. Reconveyance upon performance -- liability for failure to reconvey
71-1-308. Reconveyance of trust indenture -- forms -- objections to reconveyance
71-1-309. Objection to reconveyance
71-1-310. Liability of title insurer or title insurance producer
71-1-311. Time for foreclosure same as mortgage
71-1-312. Discontinuance of foreclosure proceedings when entire amount of default paid
71-1-313. Conditions for foreclosure by advertisement and sale
71-1-314. Requests for copies of notice of sale
71-1-315. Notice -- sale -- payment
71-1-316. Disposition of proceeds of sale -- notice -- surplus funds -- attorney fees
71-1-317. Deficiency judgment not allowed