Montana Clauses Relating to Transactions with Insiders
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How to fill out Clauses Relating To Transactions With Insiders?
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FAQ
(b) a statement that reads as follows: "IF A SELLER AGENT IS ALSO REPRESENTING A BUYER OR A BUYER AGENT IS ALSO REPRESENTING A SELLER WITH REGARD TO A PROPERTY, THEN A DUAL AGENCY RELATIONSHIP MAY BE ESTABLISHED. IN A DUAL AGENCY RELATIONSHIP, THE DUAL AGENT IS EQUALLY OBLIGATED TO BOTH THE SELLER AND THE BUYER.
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 is a non-disclosure state, meaning that property sale prices are confidential and not public information. However, they are provided to DOR.
(1) A broker or salesperson shall disclose the existence and nature of relevant agency or other relationships to the parties to a real estate transaction as provided in this section. (b) to the buyer or buyer agent at the time negotiations commence. (b) to the seller or seller agent at the time negotiations commence.
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).
(b) a statement that reads as follows: "IF A SELLER AGENT IS ALSO REPRESENTING A BUYER OR A BUYER AGENT IS ALSO REPRESENTING A SELLER WITH REGARD TO A PROPERTY, THEN A DUAL AGENCY RELATIONSHIP MAY BE ESTABLISHED. IN A DUAL AGENCY RELATIONSHIP, THE DUAL AGENT IS EQUALLY OBLIGATED TO BOTH THE SELLER AND THE BUYER.
