1-1-205. Terms relating to property and decedents’ estates. Unless the context requires otherwise, the following definitions apply in the Montana Code Annotated:

Terms Used In Montana Code 1-1-205

  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC

(1) ”Personal property” means money, goods, chattels, things in action, and evidences of debt.

(2) ”Pledge”, “mortgage”, “conditional sale”, “lien”, “assignment”, and like terms, when used in referring to a security interest in personal property, include a corresponding type of security interest under the Uniform Commercial Code–Secured Transactions.

(3) ”Property” means real and personal property.

(4) ”Real property” means lands, tenements, hereditaments, and possessory title to public lands.

(5) ”Will” includes codicils.