Montana Code 70-23-1103. Consent by unit owner on behalf of lienholder
70-23-1103. Consent by unit owner on behalf of lienholder. The instrument reflecting a unit owner’s consent on behalf of the lienholder to convert a secured property from a condominium to a townhome or townhouse must be in substantially the following form:
Terms Used In Montana Code 70-23-1103
- 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.
- Property: means real and personal property. See Montana Code 1-1-205
“(Unit owner) hereby consents on behalf of (name of lienholder), whose lien is evidenced by a trust indenture or mortgage recorded in …….. County on ….. day of …., …., in book …… at page …… as entry number …… to the following property in …….. County being converted from a condominium described as ……….. to a townhome or townhouse described as ………..
The undersigned unit owner certifies as follows:
(1)In accordance with the requirements of 70-23-1101 and 70-23-1102, MCA, the unit owner has delivered to the lienholder a notice of intent by a unit owner to a lienholder to convert a condominium to a townhome or townhouse.
(2)The lienholder has not affirmatively consented to the conversion, but the unit owner did not receive a notice of objection to the conversion from the lienholder within 120 days of the date of the notice of intent to convert a condominium to a townhome or townhouse as required to object to the conversion by 70-23-1101, MCA.
……… (Signature of unit owner)
……… (Notarization)”