Montana § 90-6-503 - Definitions
Full text of Montana Montana Code Annotated § 90-6-503 — Definitions, with citation guidance and answers to common questions.
§ 90-6-503. Definitions
Definitions. As used in this part, unless the context requires otherwise, the following terms apply: (1) "Mortgage" means a mortgage as defined in 90-6-103 . (2) "Mortgagee" means the holder of a mortgage or its assignee. (3) "Mortgagor" means a person: (a) who is of lower income as determined by the board. In its determination of lower income, the board shall take into consideration the criteria in 90-6-103 (16). (b) 68 years of age or older, except as provided on a case-by-case basis in accordance with program guidelines established by the board of housing; (c) who is the owner and occupant of a single-family dwelling; and (d) who has completed a reverse annuity mortgage counseling program approved by the board. (4) "Reverse annuity mortgage loan" means a loan in which loan proceeds are advanced to the mortgagor to provide a monthly tax-free cash payment for 10 years. (5) "Single-family dwelling" means a one- to four-family living unit.
Frequently Asked Questions About Montana § 90-6-503
What does Montana Code Annotated § 90-6-503 cover?
Section 90-6-503 ("Definitions") 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 § 90-6-503?
A common citation format is "Montana Code Annotated § 90-6-503" (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 § 90-6-503 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.