Terms Used In Montana Code > Title 15 > Chapter 63 > Part 1 - General Provisions

• account: means an account established with an account administrator in this state pursuant to 15-63-201. See Montana Code 15-63-102
• Account administrator: means :

  (a)a state or federally chartered bank, savings and loan association, credit union, or trust company;

  (b)a certified public accountant licensed to practice in this state pursuant to Title 37, chapter 50; or

  (c)the account holder. See Montana Code 15-63-102

• Account holder: means an individual who is a resident of this state and who establishes, individually or jointly, a first-time home buyer savings account. See Montana Code 15-63-102
• Contract: A legal written agreement that becomes binding when signed.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• First-time home buyer: means an individual who has never owned or purchased under contract for deed, either individually or jointly, a single-family residence in Montana or out-of-state. See Montana Code 15-63-102
• Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
• Single-family residence: means an owner-occupied residence in Montana, including a manufactured home, trailer, or mobile home, that is an improvement to real property or a condominium unit that is owned by or that has been purchased under contract for deed by a person, individually or jointly. See Montana Code 15-63-102
• 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