Montana Code 20-9-602. Title to farm mortgage lands vested in state and transfers validated
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20-9-602. Title to farm mortgage lands vested in state and transfers validated. (1) The transfer of farm mortgage lands, made by Chapter 250, Laws of 1953, shall be deemed to have vested title in such lands in the state of Montana in trust for the state public school fund.
Terms Used In Montana Code 20-9-602
- fund: means a separate detailed account of receipts and expenditures for a specific purpose as authorized by law or by the superintendent of public instruction under the provisions of subsection (2). See Montana Code 20-9-201
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- school: means an institution for the teaching of children that is established and maintained under the laws of the state of Montana at public expense. See Montana Code 20-6-501
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
(2)All contracts, certificates of purchase, deeds, and conveyances executed by the state of Montana in the administration of such lands since March 11, 1953, shall be deemed sufficient in law to dispose of the right, title, and interest therein described by the state of Montana.