Montana Code 85-1-810. No pledge or mortgage of leasehold interest
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85-1-810. No pledge or mortgage of leasehold interest. A lessee of project lands may not pledge the lease or mortgage a leasehold interest in the project lands.
Terms Used In Montana Code 85-1-810
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.