Montana Code 77-1-909. Cancellation or termination of commercial lease
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77-1-909. Cancellation or termination of commercial lease. A commercial lease may be canceled at the option of the board or its designated representative for any violation of a lease provision. Upon cancellation or termination of a lease, the department may seek a new lessee in accordance with this part. If the costs of the commercial development have not been recovered by the state at the time of cancellation or termination, a subsequent lessee under this section shall reimburse the state for development costs, assessments, or fees only to the extent that the proportionate part of the costs, assessments, and fees to the state for obtaining the development have not been recovered.
Terms Used In Montana Code 77-1-909
- Cancellation: means the cessation of a lessee's possessory rights and privileges under a lease due to the lessee's breach of some term of the lease, applicable statutes, or applicable administrative rules. See Montana Code 77-1-902
- Commercial lease: means a contract to use state trust land for a commercial purpose. See Montana Code 77-1-902
- 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
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
- Termination: means the automatic completion or ending of the term of a contract according to its provisions. See Montana Code 77-1-902