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:
AMay cancel the contract with full earnest money refund due to material misrepresentation
BIs generally bound by the contract unless the seller concealed this fact✓ Correct
CMay automatically cancel under Montana's natural hazard disclosure laws
DMust proceed to closing since all land records are public
Explanation
If the buyer did not negotiate a flood contingency and the seller did not conceal or misrepresent the flood zone status, the buyer is generally bound by the contract. Buyers should conduct due diligence on flood zone status before making offers.
Related Montana Contracts Questions
- In Montana, a real estate broker who has an exclusive right-to-sell listing is entitled to a commission when their client later sells the property during the protection period to a buyer the broker registered. For this protection period to apply, the broker typically must:
- A contingency in a purchase contract allows a buyer to:
- A contract that is 'void' is different from one that is 'voidable' because a void contract:
- A 'right of first refusal' gives the holder the right to:
- For a real estate contract in Montana to be enforceable, it must be:
- A buyer submits an offer to purchase. The seller makes changes to the price and signs it. This creates:
- In a Montana real estate contract, 'time is of the essence' means:
- A Montana seller signs a listing agreement but the property is never marketed. The seller may have a claim against the broker for breach of:
Practice More Montana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Montana Quiz →