71-1-320. Trustees' fees and attorneys' fees. Reasonable trustees' fees and attorneys' fees to be charged to the grantor in the event of foreclosure by advertisement and sale shall not exceed, in the aggregate, 5% of the amount due on the obligation, both principal and interest, at the time of the trustee's sale. If prior to the trustee's sale the obligation and the trust indenture shall be reinstated in accordance with provisions of 71-1-312, the reasonable trustees' fees and attorneys' fees to be charged to the grantor shall not exceed the lesser of $1,000 or 1% of the amount due on the obligation, both principal and interest, at the time of default. In no event shall trustees' fees and attorneys' fees be charged to a grantor on account of any services rendered prior to the commencement of foreclosure.
History: En. Sec. 16, Ch. 177, L. 1963; R.C.M. 1947, 52-416; amd. Sec. 2, Ch. 55, L. 1983.
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