Montana Code 25-13-801. Who may redeem — definition
25-13-801. Who may redeem — definition. (1) Property sold subject to redemption, as provided by 25-13-710, or any part sold separately may be redeemed in the manner provided in this part by the following persons or their successors in interest:
Terms Used In Montana Code 25-13-801
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- 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.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Property: means real and personal property. See Montana Code 1-1-205
(a)the judgment debtor, the judgment debtor’s spouse, or the judgment debtor’s successor in interest in the whole or any part of the property and, if the judgment debtor or successor is a corporation, a stockholder of the corporation;
(b)a creditor having a lien by judgment, mortgage, or attachment on the property sold or on some share or part of the property subsequent to that on which the property is sold. If a corporation is the creditor, then any stockholder of the corporation may redeem.
(2)The persons mentioned in subsection (1)(b) are, in this part, termed “redemptioners”.