Montana Law Verified Solutions
1. Defects on Listed Property: A salesperson who discovers defects should advise both the buyer and
seller.
2. Earnest Money Handling: Earnest money should be given to the broker.
3. Appeals for License Actions: License revocations or suspensions can be appeal...
1. Defects on Listed Property: A salesperson who discovers defects should advise both the buyer and
seller.
2. Earnest Money Handling: Earnest money should be given to the broker.
3. Appeals for License Actions: License revocations or suspensions can be appealed to the district court.
4. Licenses in a Revoked Office: If a principal broker's license is revoked, other broker and salesperson
licenses in the office are suspended.
5. Sales Commission: The amount of sales commission is contained in the listing agreement.
6. Suspended License Commission: A salesperson with a suspended license cannot receive a commission
split; this may result in misdemeanor charges.
7. Radon Gas Disclosure: Buyers must be given a written radon gas disclosure statement before signing a
contract of sale.
8. Month-to-Month Lease Termination: A landlord may terminate a month-to-month residential lease
with at least 30 days notice.
9. Broker Representation: A broker who represents neither the seller nor the buyer is termed a statutory
broker.
10. Broker Agency Agreements: A broker may be the agent of either party if there is a written
agreement.
11. Earnest Money Deposit Timeline: Earnest money must be deposited within 3 business days of
receipt.
, 12. Exceptions to Earnest Money Timing: A broker may wait longer than 72 hours to deposit earnest
money if specified in the purchase agreement.
13. Water Transfer Certificates: These are filed with the Water Rights Bureau at the Department of
Natural Resources and Conservation.
14. Dual Office Operation: Yes, a broker can operate a real estate office and appraisal office from the
same location.
15. Radon Disclosure Obligations: The buyer must also be provided evidence of any radon mitigation or
tests performed on the property.
16. Security Deposits: After lease termination, a landlord must provide a list of deductions and return
any balance within 30 days.
17. Continuing Education Deadline: Continuing education must be completed each year by October 31st.
18. Dual Agency in Montana: This is allowable if both parties give informed consent.
19. Salesperson License Ownership: The salesperson's license is held by the supervising broker.
20. Contract Inducement: A salesperson cannot induce a party to break a contract.
21. Listing Agreement Requirements: Signatures of all owners of record are required.
22. Abandonment and Furniture Storage: If the broker waits 10 days before storing abandoned
furniture, they have acted legally, provided it's stored properly.
23. Invalid Deed Ownership: A deed specifying tenancy by the entirety is invalid in Montana.
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