- An out-of-state licensee can share a commission with a Montana licensee, but cannot perform licensed services within the Transaction State.
- An out-of-state licensee cannot bring a lawsuit for commission in Montana if the out-of-state licensee performed licensed services within the state.
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ReciprocityAny State* * Brokers who receive a Waiver for Education and Experience, still need to pass the Montana Portion of the Real Estate Exam. |
Specific to Montana |
Reverse ReciprocityThese states specifically mention Montana in their Reciprocity: None These States recognize any other State licenses but may have additional requirements: Alaska, Alabama, Colorado, Georgia, Idaho, Indiana, Kansas, Kentucky, Maine, Nebraska, North Carolina, Rhode Island, South Dakota, Tennesee, Vermont, Washington |
Customs
Real estate closings are handled through escrow.
Conveyance is by warranty deed, corporate deed, or grant deed. Mortgages, deeds of trust, and unrecorded contracts of sale are the security instruments.
Montana uses ALTA policies and endorsements.
Buyers and sellers split the escrow and closing costs; sellers usually pay for the title insurance policies.
There are no documentary, mortgage, or transfer taxes.
Montanans may pay their property taxes annually.
Montana is a NON-DISCLOSURE state. Transaction details and the Buyer, Seller, Sales Price, or even if a property sold is NOT PUBLIC RECORD.
Conveyance is by warranty deed, corporate deed, or grant deed. Mortgages, deeds of trust, and unrecorded contracts of sale are the security instruments.
Montana uses ALTA policies and endorsements.
Buyers and sellers split the escrow and closing costs; sellers usually pay for the title insurance policies.
There are no documentary, mortgage, or transfer taxes.
Montanans may pay their property taxes annually.
Montana is a NON-DISCLOSURE state. Transaction details and the Buyer, Seller, Sales Price, or even if a property sold is NOT PUBLIC RECORD.