Terms Used In Montana Code > Title 77 > Chapter 6 > Part 4 - Pledges and Mortgages of Leasehold Interests

• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• 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}
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
• Plaintiff: The person who files the complaint in a civil lawsuit.
• 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