This office lease provision states that the landlord and tenant each warrant and represent to the other party that there was no broker, finder or similar person, other than those listed, entitled to a commission, fee or other compensation, instrumental in consummating the lease. It also states that no conversations or prior negotiations were had by the landlord or tenant, respectively, or anyone acting on behalf of the landlord or the tenant, respectively, with any broker, finder or similar person, other than those listed, concerning the renting of the demised premises.
Montana Lease Provisions Relating to Brokers
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US-OL29A07
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FAQ
The statute requires seller's agents to disclose to a buyer or the buyer agent any adverse material facts concerning the property that are known to the seller agent, except that the seller agent is not required to inspect the property or verify any statements made by the seller. MCA section 37-51-313(3)(a).
Let's say one agent introduced the buyer to a property, and the buyer eventually purchased and finalized the sale with a second agent. If the agent claims they were the procuring cause of the sale, this could lead to a procuring cause dispute.
In the State of Montana, a person may not engage in or conduct business in the capacity of a Property Manager until that person has received a license from the Montana Board of Realty Regulation.
A statutory broker is a licensee who may assist one or more of the parties in a transaction but does not actually represent either party in an agency relationship. Agents are presumed to be acting in that capacity unless they have a listing agreement with a seller, or a signed buyer brokerage agreement with a buyer.
Montana Real Estate Broker License Requirements Must have completed 60 hours of pre-licensing instruction from a school and instructor approved by the Board. ... Must have passed the Montana Broker Examination with a score of 80% on both portions. ... Must have two years experience as a licensed salesperson.
Designated agency reduces the chances of a conflict of interest arising in a real estate transaction. Designated agency eliminates the conflicts of interest that arise for a brokerage when two industry members from the same brokerage represent the buyer and seller in the same transaction (in-house transaction).
Generally speaking, a trust indenture is a lien against the property with the buyer being the legal owner. In a contract for deed, a contact is executed between a seller and a buyer whereby a seller agrees to transfer title to the property once the amount set forth in the contract has been paid in full.
