Environmental
In Montana, an environmental impact statement (EIS) under NEPA is required for:
AAll private real estate developments over 10 acres
BFederal actions significantly affecting the quality of the human environment, such as federal land use decisions or federally funded projects✓ Correct
CAll construction projects near rivers in Montana
DAll commercial real estate transactions over $1 million
Explanation
NEPA (National Environmental Policy Act) requires an Environmental Impact Statement for major federal actions significantly affecting the human environment. In Montana, this commonly applies to BLM land use plan amendments, Forest Service projects, federally funded highway projects, and other federal agency actions.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
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