Mont. Code Ann. § 15-63-102 — Definitions

15-63-102 . Definitions. As used in this chapter, unless the context requires otherwise, the following definitions apply:
(1) "Account administrator" means:
(a) a state or federally chartered bank, savings and loan association, credit union, or trust company;
(b) a certified public accountant licensed to practice in this state pursuant to Title 37, chapter 50; or
(c) the account holder.
(2) "Account holder" means an individual who is a resident of this state and who establishes, individually or jointly, a first-time home buyer savings account. The account holder must also be a first-time home buyer. A married taxpayer filing separately may be an account holder if the account is established separately from the taxpayer's spouse. Married taxpayers filing jointly are considered as the account holder.
(3) "Eligible costs" means the downpayment and allowable closing costs for the purchase of a single-family residence in Montana by a first-time home buyer.
(4) "First-time home buyer" means an individual who has never owned or purchased under contract for deed, either individually or jointly, a single-family residence in Montana or out-of-state.
(5) "First-time home buyer savings account" or "account" means an account established with an account administrator in this state pursuant to 15-63-201 .
(6) "Single-family residence" means an owner-occupied residence in Montana, including a manufactured home, trailer, or mobile home, that is an improvement to real property or a condominium unit that is owned by or that has been purchased under contract for deed by a person, individually or jointly.