Montana § 15-24-1201 - State And Other Exempt Property Held Under Contract -- When Taxable
Full text of Montana Montana Code Annotated § 15-24-1201 — State And Other Exempt Property Held Under Contract -- When Taxable, with citation guidance and answers to common questions.
§ 15-24-1201. State And Other Exempt Property Held Under Contract -- When Taxable
State and other exempt property held under contract -- when taxable. Property of the state of Montana or any department, agency, or subdivision of the state or any other property not subject to ad valorem tax to the owner of the property by reason of the legal status of the owner, held under contract of sale or lease with option to purchase with lease money applicable to the purchase price by any person for the person's exclusive use, is subject to assessment to the purchaser or lessee for ad valorem property taxation.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 15-24-1201
What does Montana Code Annotated § 15-24-1201 cover?
Section 15-24-1201 ("State And Other Exempt Property Held Under Contract -- When Taxable") is part of the Montana Code Annotated, the codified statutory law of Montana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Montana § 15-24-1201?
A common citation format is "Montana Code Annotated § 15-24-1201" (Montana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Montana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Montana official source linked on this page or consult a licensed Montana attorney.
How does Montana § 15-24-1201 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Montana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Montana.