The bill amends Section 76-3-207 of the Montana Code Annotated to clarify that prohibitions on conveying family transfer parcels do not apply to transactions involving lenders. It introduces new provisions that allow immediate family members or their spouses to convey interests in land under a mortgage or trust indenture to secure obligations owed to another party. Additionally, the bill specifies that the restrictions on transferring land do not apply in cases of foreclosure sales or deeds in lieu of foreclosure, allowing for greater flexibility in these situations.

Furthermore, the bill includes several insertions that protect the rights of individuals or entities acquiring land through foreclosure, ensuring that they can freely transfer or convey the property. It also stipulates that the governing body cannot impose civil liability on those who receive land divisions or security interests in the land, nor can it affect the validity or priority of such interests. Overall, the amendments aim to provide clarity and flexibility regarding land conveyances while maintaining necessary regulations.

Statutes affected:
LC Text: 76-3-207
HB0520_1(1): 76-3-207
HB0520_1(2): 76-3-207
HB0520_1: 76-3-207