Montana License Law
A Montana real estate salesperson who is also a licensed mortgage broker must disclose this fact to real estate clients because:
AMontana law prohibits holding both licenses simultaneously
BDual licensing creates a potential conflict of interest that clients must be aware of to give informed consent✓ Correct
CIt increases the client's closing costs automatically
DOnly one license may be active at a time
Explanation
Holding both real estate and mortgage broker licenses creates a potential conflict of interest—the agent may earn compensation from both the real estate sale and the mortgage origination. This must be disclosed to clients so they can make informed decisions.
Related Montana Montana License Law Questions
- A Montana real estate licensee's license is considered 'lapsed' when:
- In Montana, a real estate license may be placed on 'inactive status' when the licensee:
- How many continuing education hours does a Montana salesperson need to renew their license each renewal period?
- The Montana Board of Realty Regulation may impose which of the following penalties on a licensee found to have violated license law?
- The Montana Board of Realty Regulation is composed of members appointed by:
- Under Montana MCA Title 37 Chapter 51, the statute of limitations for filing a complaint against a licensee with the Board of Realty Regulation is:
- Under MCA Title 37 Chapter 51, how many hours of pre-license education must a salesperson candidate complete before sitting for the Montana real estate exam?
- Under MCA Title 37 Chapter 51, the Montana Board of Realty Regulation consists of how many members?
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