How can a former spouse or survivor assert entitlement to surplus funds following the owner’s death or divorce?
How can a former spouse or survivor assert entitlement to surplus funds following the owner’s death or divorce? 1. Detailed Answer Surplus funds arise when a foreclosure sale or tax sale of real property generates more money than the outstanding lien or taxes owed. In Montana, these funds go into the county treasury until a […]
Read article →How can an interested party determine if surplus funds remain after a foreclosure sale in Montana?
Detailed Answer Under Montana law, a foreclosure sale may produce surplus funds if the sale price exceeds the total debt, accrued interest, fees, and expenses. Mont. Code Ann. § 71-1-311 requires the foreclosing trustee or sheriff to apply the sale proceeds in order: costs, fees, mortgage balance, then any remaining surplus. Surplus funds belong to […]
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