Montana Code 31-2-339. Remedies of creditors
31-2-339. Remedies of creditors. (1) In an action for relief against a transfer or obligation under this part, a creditor, subject to the limitations in 31-2-340, may obtain:
Terms Used In Montana Code 31-2-339
- Asset: means property of a debtor, but the term does not include:
(a)property to the extent it is encumbered by a valid lien;
(b)property to the extent it is generally exempt under nonbankruptcy law; or
(c)an interest in property held in tenancy by the entireties to the extent it is not subject to process by a creditor holding a claim against only one tenant. See Montana Code 31-2-328
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Claim: means a right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, legal, equitable, secured, or unsecured. See Montana Code 31-2-328
- Creditor: means a person who has a claim. See Montana Code 31-2-328
- Debtor: means a person who is liable on a claim. See Montana Code 31-2-328
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Property: means anything that may be the subject of ownership. See Montana Code 31-2-328
- Transfer: means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset and includes payment of money, release, lease, and creation of a lien or other encumbrance. See Montana Code 31-2-328
(a)avoidance of the transfer or obligation to the extent necessary to satisfy the creditor’s claim;
(b)an attachment or other provisional remedy against the asset transferred or other property of the transferee in accordance with the procedure prescribed by Title 27, chapter 18; or
(c)subject to applicable principles of equity and in accordance with applicable rules of civil procedure:
(i)an injunction against further disposition by the debtor or a transferee, or both, of the asset transferred or of other property;
(ii)appointment of a receiver to take charge of the asset transferred or of other property of the transferee; or
(iii)any other relief the circumstances may require.
(2)If a creditor has obtained a judgment on a claim against the debtor, the creditor, if the court so orders, may levy execution on the asset transferred or its proceeds.