Contracts
In Montana, an addendum to a purchase contract must:
ABe filed with the county before it takes effect
BReference the original contract, be signed by all parties, and clearly state the modifications✓ Correct
COnly be signed by the party requesting the modification
DAutomatically supersede all terms of the original contract
Explanation
An addendum modifying a Montana purchase contract must reference the original contract, clearly state what terms are being added or changed, and be signed and dated by all parties to be effective. The addendum then becomes part of the contract.
People Also Study
Related Montana Questions
- Under Montana law, a real estate purchase contract becomes binding when:Contracts
- A Montana broker who allows an unlicensed assistant to independently negotiate the terms of a purchase contract is:Montana License Law
- If a buyer defaults under a Montana purchase contract and the seller retains the earnest money, this is known as:Contracts
- An 'as-is' clause in a Montana purchase contract means:Contracts
- 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'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
- A Montana borrower has a 'land contract' (contract for deed) to purchase agricultural property. They should understand that under a land contract:Finance
- In Montana, 'selenium contamination' from coal mining and irrigation drainage in the eastern part of the state is a concern because:Environmental
Key Terms to Know
Earnest Money
A 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.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
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.
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 →