Property Ownership
In Montana, a 'boundary line agreement' between neighboring property owners establishes:
AA new surveyed boundary requiring a court judgment
BA mutually agreed-upon boundary line that is recorded and binding on subsequent owners✓ Correct
CA temporary arrangement that expires when either property is sold
DA federal boundary established by the BLM
Explanation
A boundary line agreement in Montana is a recorded agreement between adjacent property owners establishing or confirming a boundary line between their properties. Once recorded, it becomes binding on future owners and can resolve uncertainty without expensive litigation.
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Key Terms to Know
Joint Tenancy
Co-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.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
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