Montana Code 70-17-211. Findings — purpose
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70-17-211. Findings — purpose. The legislature finds and declares that transfer fee covenants, as defined in 70-17-212, impair the marketability and transferability of real property by constituting an unreasonable restraint on alienation regardless of the duration of the covenants or the amount of the transfer fees. The purpose of 70-17-212 and this section is to prohibit transfer fee covenants from running with the title to real property or binding subsequent owners of the property under common law or equitable principles.
Terms Used In Montana Code 70-17-211
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Property: means real and personal property. See Montana Code 1-1-205