Montana Code 71-1-221. Definition of foreclosure
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71-1-221. Definition of foreclosure. The term “foreclosure” for the purpose of this part shall include sale or possession of real property made or taken whether by judicial proceedings or otherwise.
Terms Used In Montana Code 71-1-221
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC