Montana Code 37-56-108. Transactions with nonlicensed persons unlawful — action for compensation limited to licensees
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37-56-108. Transactions with nonlicensed persons unlawful — action for compensation limited to licensees. (1) It is unlawful for a licensed property manager to employ or compensate, directly or indirectly, a person who is not a licensed property manager for performing the acts regulated by this part.
Terms Used In Montana Code 37-56-108
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- Property: means real and personal property. See Montana Code 1-1-205
- Property manager: means an individual who engages in the business of leasing, renting, subleasing, or other transfer of possession of real estate located in this state without transfer of the title to the property. See Montana Code 37-56-101
- Real estate: includes leaseholds as well as any other interest or estate in land, whether corporeal, incorporeal, freehold, or nonfreehold and whether the real estate is situated in this state or elsewhere. See Montana Code 37-56-101
(2)A person seeking to collect compensation for the lease of real estate shall demonstrate licensure or exemption from licensure.