Montana · ForeclosureMontana foreclosure by trustee's sale: the 120-day notice, publication and cure

Under Montana's Small Tract Financing Act, a trustee may foreclose a trust indenture by advertisement and sale if the trust indenture, any assignments and any successor trustee appointment are recorded in each county where the property lies, there is a default under a provision authorizing sale, and the trustee or beneficiary has recorded an executed and acknowledged notice of sale describing the parties, the property, the default and the sum owing (MCA 71-1-313). A copy of the recorded notice must be mailed by certified mail at least 120 days before the sale to the grantor, to persons designated in the trust indenture, to anyone who recorded a request for notice, to record successors of the grantor and to junior lienholders of record; posted on the property at least 20 days before the sale; and published in a newspaper of general circulation once a week for 3 successive weeks, with the last publication at least 20 days before the sale. Affidavits of mailing, posting and publication are recorded on or before the sale date, and the sale is a public auction to the highest bidder (MCA 71-1-315). Before the time fixed for the sale, the grantor, a successor, a junior lienholder or a junior beneficiary may stop the foreclosure by paying the entire amount then due, with costs, reasonable trustee's and attorney fees, other than principal not yet due without the default (MCA 71-1-312).