Montana · What this letter means
Montana foreclosure letters and notices
The papers Montana homeowners receive, in the order they usually arrive. Each page uses the name on the Montana document, explains the deadline it starts under Montana law, and lists what to do this week.
- Step 1
Notice of Trustee's Sale
In Montana, the Notice of Trustee's Sale is the main foreclosure paper for a home under a trust indenture. It is recorded with the county and mailed to you by certified mail at least 120 days before the auction. You can still stop the sale by paying only what is past due, plus costs and fees, any time before the time set for the sale.
What it means - Step 2
Notice of surplus funds
If your home sold at a trustee's sale for more than the loan and sale costs, Montana law makes the trustee deposit the extra with the county clerk and recorder and mail you notice. The county treasurer holds it. Only a district court order releases it, so you must file a petition.
What it means - Step 3
Written notice ending a tenancy at will
After a Montana trustee's sale, the buyer is entitled to possession on the 10th day, and anyone still living there is treated as a tenant at will. Montana law ends a tenancy at will with a written notice to leave within a period of at least 1 month. Only after that period can the buyer go to court.
What it means - Step 4
Summons and complaint for unlawful detainer
If you are still in the home after the move-out period in the buyer's written notice, the buyer can sue for possession in district court or justice court. The summons must tell you to appear and answer within 10 days of service. If you do not, the court must enter judgment against you.
What it means - Step 5
Summons and complaint for foreclosure
Montana lenders may foreclose a trust indenture in court instead of by trustee's sale, and older mortgages are foreclosed in court. If you are served with a summons and complaint, you generally have 21 days to answer. A court foreclosure can lead to a deficiency judgment, but it also gives you 1 year to redeem after the sheriff's sale.
What it means - Step 6
Sheriff's certificate of sale
After a court foreclosure in Montana, the sheriff sells the home and gives the buyer a certificate of sale, with a duplicate filed with the county clerk. It is not a deed. You have 1 year from the sale to redeem, and the buyer cannot take possession from you during that year while you live there as your home.
What it means
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