Contracts
An 'addendum' to a Montana real estate purchase agreement is:
AA document that voids the original agreement
BA document that adds to or modifies the terms of the original agreement and is incorporated into it✓ Correct
CA separate contract independent of the original agreement
DA disclosure statement required by Montana law
Explanation
An addendum adds to or modifies the terms of an existing contract and is incorporated into and made part of the original agreement. It must be signed by all parties to be effective.
People Also Study
Related Montana Questions
- A real estate purchase contract typically specifies which party pays transfer taxes and recording fees. In the absence of a specific agreement in Montana:Contracts
- In Montana, a buyer discovers after signing a purchase agreement that the property is located in a FEMA-designated floodplain. If the contract includes no flood-related contingency, the buyer:Contracts
- In Montana, a 'purchase agreement' and a 'sales contract' for real estate are:Contracts
- In Montana, a buyer who signs a purchase agreement 'under duress' or 'undue influence' can have the contract:Contracts
- A Montana broker who allows an unlicensed assistant to independently negotiate the terms of a purchase contract is:Montana License Law
- A property management agreement in Montana is a contract between the property owner and the manager that should specify:Property Management
- In Montana, a listing agreement is a contract between the seller and the:Agency
- In Montana, a buyer's agent writing a purchase offer should consult with their buyer about all material terms including price, contingencies, and closing date, because the agent has a duty of:Agency
Key Terms to Know
Purchase Agreement
A legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
State-Specific Concepts
Disclosure Requirements
Study This Topic
Practice More Montana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Montana Quiz →