Montana § 90-6-502 - Purpose
Full text of Montana Montana Code Annotated § 90-6-502 — Purpose, with citation guidance and answers to common questions.
§ 90-6-502. Purpose
Purpose. Many elderly citizens in Montana own their own homes and have little or no remaining mortgage debt. Many of these home owners are persons of lower income who would benefit from an additional income source from the use of the equity in their homes. The legislature finds that reverse annuity mortgage loans would enable elderly home owners to provide more substantially for their own in-home support and specialized care. The purpose of this part is to: (1) establish a reverse annuity mortgage loan program within the board of housing; (2) authorize the board to make reverse annuity mortgage loans; (3) counsel, assist, and protect elderly home owners who wish to obtain a reverse annuity mortgage loan; and (4) administer a reverse annuity mortgage loan program that does not jeopardize the mortgagor's eligibility for medicaid and other means-tested programs.
Frequently Asked Questions About Montana § 90-6-502
What does Montana Code Annotated § 90-6-502 cover?
Section 90-6-502 ("Purpose") 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 § 90-6-502?
A common citation format is "Montana Code Annotated § 90-6-502" (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 § 90-6-502 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.