Montana License Law
Which of the following activities would constitute 'unlicensed practice' of real estate in Montana?
AA licensed attorney handling a property sale as part of an estate
BA friend showing a property and receiving $500 for bringing a buyer✓ Correct
CAn owner selling their primary residence without an agent
DA property owner leasing their own duplex
Explanation
Receiving compensation for real estate activities (such as procuring buyers) without holding a Montana license constitutes unlicensed practice, which is illegal regardless of the amount paid.
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Key Terms to Know
Discount Points
Prepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
Community PropertyIn community property states, most property acquired during marriage is owned equally by both spouses, regardless of who paid for it.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
State-Specific Concepts
License Law
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