Montana Code 71-3-541. Priority among holders of construction liens
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71-3-541. Priority among holders of construction liens. (1) There is equal priority between or among construction lien claimants who contribute to the same real estate improvement project, regardless of the date on which each lien claimant first contributed services or materials and regardless of the date on which the claimant filed the notice of lien. When the proceeds of a foreclosure sale are not sufficient to pay all construction lien claimants in full, each claimant must receive a pro rata share of the proceeds based on the amount of the claimant’s respective lien.
Terms Used In Montana Code 71-3-541
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- 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
- Lien: A claim against real or personal property in satisfaction of a debt.
- lien: means a lien against real estate arising under this part. See Montana Code 71-3-522
(2)Construction liens attaching at different times have priority in the order of attachment.