§ 37-51-301 License required — limited to persons
§ 37-51-302 Broker’s or salesperson’s license — qualifications of applicant — supervising broker endorsement
§ 37-51-303 Broker or salesperson examination
§ 37-51-304 Repealed
§ 37-51-305 Repealed
§ 37-51-306 Transactions with nonresidents and with nonlicensed brokers, salespersons, or property managers — consent to legal process
§ 37-51-307 Repealed
§ 37-51-308 Broker’s office — display — notice to department of change of address
§ 37-51-309 Broker — salesperson — for-sale-by-owner personal transactions of salesperson — notice to department of change of association
§ 37-51-310 Repealed
§ 37-51-311 Fees — deposit of fees
§ 37-51-312 No taxation by municipality
§ 37-51-313 Duties, duration, and termination of relationship between broker or salesperson and buyer or seller
§ 37-51-314 Relationship disclosure requirements
§ 37-51-315 Vicarious liability
§ 37-51-321 Unprofessional conduct — sanction of license
§ 37-51-322 Repealed
§ 37-51-323 Repealed
§ 37-51-324 Penalty for failure to comply with trust account requirements
§ 37-51-325 Professional liability insurance required — errors and omissions insurance coverage — policy requirements
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Terms Used In Montana Code > Title 37 > Chapter 51 > Part 3 - Licensing

  • Appraisal: A determination of property value.
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • 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
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
  • Process: means a writ or summons issued in the course of judicial proceedings. See Montana Code 1-1-202
  • Property: means real and personal property. See Montana Code 1-1-205
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Real property: means lands, tenements, hereditaments, and possessory title to public lands. See Montana Code 1-1-205
  • seller agent: as used in this chapter , are defined in 37-51-102 and are not related to the term "agent" as used elsewhere in state law. See Montana Code 37-51-313
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
  • Statute: A law passed by a legislature.
  • Summons: Another word for subpoena used by the criminal justice system.
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Writing: includes printing. See Montana Code 1-1-203