Montana real estate - Study guides, Class notes & Summaries

Who is not Required to have a Real Estate License -:- An auctioneer employed by owner an executor of an estate (acting under court order) government employee owners or lessors of their own property Who is Required to have a Real Estate License -:- broker of salesperson to negotiate sale or lease (without or without the expectation of getting paid) anyone showing someone else's property The Board -:- Consists of seven people appointed by the governor does not involve itself wi...

Montana Real Estate Exam Quizzes & Ans

Montana Real Estate Exam 1. A MT broker must keep trust account records for: ️ 8 years. 2. If a zoning ordinance conflicts with a restrictive covenant: ️ The more limiting of the two controls. 3. Pierce has a buyer broker agreement. Pierce may legally receive a commission from: ️ Any party with the knowledge and consent of the buyer. 4. A real estate licensee should disclose known defects to the buyer in which of the following situations? ️ In all situations. 5. Sarah is a ...

A MT broker must keep trust account records for? - Answer- 8 years If a zoning ordinance conflicts with a restrictive covenant: - Answer- The more limiting of the two controls Pierce has a buyer broker agreement. Pierce may legally receive a commission from? - Answer- Any party with the knowledge and consent of the buyer I really state licensee should disclose known defects to the buyer in which of the following situations? - Answer- In all situations Sarah is a licensed real estate ...

Montana real estate exam questions and answers 100% correct A MT broker must keep trust account records for? - Answer- 8 years If a zoning ordinance conflicts with a restrictive covenant: - Answer- The more limiting of the two controls Pierce has a buyer broker agreement. Pierce may legally receive a commission from? - Answer- Any party with the knowledge and consent of the buyer I really state licensee should disclose known defects to the buyer in which of the following situations? - An...

Real Estate Montana final exam solution personal property that, by its attachment to real property, is regarded as real estate is called - a fixture An object that is affixed to commercial property and used to generate income is called a - trade fixture

To be enforceable, a real estate sales contract must contain: - At least an accurate description of the property. If a potential buyer suspects that a listed property may have once been an oil refinery, the buyer should: - Include an environmental audit contingency provision in the offer. The buyer's interest under a contract of sale is? - Equitable title (has the right to get ownership) What concept gives a vendee the right to sue the vendor for specific performance on a signed contract? ...

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