71-1-211. Satisfaction of mortgage — record thereof. (1) A mortgage must be discharged upon the record by the county clerk in whose custody it is recorded whenever there is presented to the clerk a certificate executed by the mortgagee or the mortgagee’s personal representative or assignee, acknowledged or proved and certified as prescribed in this chapter that entitles a conveyance to be recorded, specifying that the mortgage has been paid or otherwise satisfied or discharged.

Terms Used In Montana Code 71-1-211

  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.

(2)Every certificate and the proof and acknowledgment must be recorded at full length, and a reference must be made to the book and page containing the record in the mortgagor and mortgagee indexes as to the discharge of the mortgage.