Montana Code 15-7-303. Definitions
15-7-303. Definitions. As used in this part, the following definitions apply:
Terms Used In Montana Code 15-7-303
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiduciary: A trustee, executor, or administrator.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means an individual, corporation, partnership, or other business organization, trust, fiduciary, or agent or any other party presenting a document for recordation. See Montana Code 15-7-303
- Real estate: includes :
(a)land;
(b)growing timber;
(c)buildings, structures, fixtures, fences, and improvements affixed to land. See Montana Code 15-7-303
(1)”Person” means an individual, corporation, partnership, or other business organization, trust, fiduciary, or agent or any other party presenting a document for recordation.
(2)”Real estate” includes:
(a)land;
(b)growing timber;
(c)buildings, structures, fixtures, fences, and improvements affixed to land.
(3)”Transfer” means an act of the parties or of the law by which the title to real property is conveyed from one person to another.
(4)”Value” means the amount of the full actual consideration for real estate paid or to be paid, including the amount of any lien or liens on the real estate.