72-14-206. Unsold real property -- how disposed of -- auction sale. (1) If the real property was not sold by the personal representative at the final settlement of the estate, then the personal representative shall make and execute to the state of Montana a deed and deliver the deed to the county clerk and recorder of the county in which the real property is situated. The county clerk and recorder shall file and record the deed without charge and shall mail the deed to the department of revenue. The department of revenue shall record the deed and deliver it to the board of land commissioners.
     (2) Within 1 year after the receipt of the recorded deed, the board shall sell the property to the highest bidder at a public auction sale to be held at the courthouse in the county where the real property or any part of the property is situated.
     (3) The board shall give notice of the sale by publication once a week for 2 weeks in a newspaper published in the county in which the real estate or any part of the real estate is situated. The last publication must be at least 20 days prior to the date of the sale. The notice must give the time and place of the sale and contain a description of the real property to be sold.
     (4) All expenses of the sale must be deducted by the board from the proceeds of the sale, and the balance of the proceeds must be turned over to the state treasurer for deposit in the private purpose trust fund. The board shall provide the department with a statement indicating the sale price, expenses, and net proceeds resulting from each sale.

     History: En. Sec. 6, Ch. 184, L. 1943; amd. Sec. 113, Ch. 147, L. 1963; amd. Sec. 4, Ch. 156, L. 1971; amd. Sec. 70, Ch. 391, L. 1973; R.C.M. 1947, 91-506; amd. Sec. 4, Ch. 628, L. 1979; amd. Sec. 6, Ch. 5, L. 1995; amd. Sec. 24, Ch. 34, L. 2001.