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Montana Real Estate Continuing Education Montana License Law

Montana License Law

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  • Course Delivery: On Demand
  • Credit Hours: 3
  • Credit Type: Mandatory

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Description

This course examines the laws and rules governing the licensing and conduct of Montana real estate professionals, beginning with an overview of the role, structure, responsibilities, and duties of the Montana Board of Realty Regulation. Students explore the real estate related activities that require a license, as well as the requirements for obtaining and renewing various real estate licenses. Licensee duties, agency relationships, unprofessional conduct, trust accounts, foreclosures, the Real Estate Recovery Account, property management, and the Residential Landlord and Tenant Act are also discussed. The course closes with the condominium requirements under the Montana Unit Ownership Act.

 

Course Objectives

Upon the completion of this course, the student will be able to:
- Define important terms found in Montana Real Estate License Law; List the persons to which the Montana Real Estate License Law does not apply; Discuss the make up of the Board of Realty Regulation and it's general licensing power; Recall the qualifications that applicants must possess when applying for a salesperson or broker license; Explain Montana provisions regulating license examinations, continuing education, and renewals
- Explain the provisions of Montana License Law governing the relationship between a broker and a salesperson; Interpret the Montana statute setting forth the duties, duration, and termination of relationships between brokers or salespersons and buyers or sellers; Describe a dual agent's obligations to clients under Montana License Law; Recite the agency relationship disclosure requirements in Montana; Recall the practices that are considered unprofessional conduct under the Administrative Rules of Montana; List the Board of Realty Regulation's disciplinary guidelines; Summarize the practices for which a licensee may have his/her license revoked or suspended and the possible penalties
- Explain the trust account requirements that brokers must follow; Discuss the purpose and operation of the Real Estate Recovery Account; Analyze the statute of frauds provisions in Montana; Describe the proceedings in Montana foreclosure suits; Summarize the internet advertising requirements laid out in the Administrative Rules of Montana
- Recognize which property management practices are covered under Montana Real Estate License Law provisions; List the qualifications required to obtain a Montana property manager license; Recite the continuing education and renewal requirements for Montana property managers; Summarize the requirements for maintaining property management trust accounts; Recall the acts that are considered unprofessional conduct for property management licensees
- Summarize the exclusions under the Residential Landlord Tenant Act; Describe the provisions governing the terms and conditions of rental agreements; Explain the rights and duties of the parties under the Residential Landlord Tenant Act;
- Recall the provisions regulating a landlord's access to rental premises; List the remedies available to parties for breaches and noncompliance with Montana law
- Summarize the content required in a condominium declaration under Montana law; List the condominium documents that must be recorded and approved; Recall the required content of condominium bylaws; Discuss the nature of condominium ownership interest; Explain the rights and duties of condominium ownership; Describe how liens and common expenses work with regard to condominiums; Name the documents that condominium sellers must provide to prospective buyers; Discuss the removal of condo property from the provisions of the Montana Unit Ownership Act - Condominiums

 

Topics Covered

This course covers the following topics:
- Board of Realty Regulation and Licensing
- Licensee Duties, Agency Relationships, and Unprofessional Conduct
- Trust Accounts, Recovery Account, and Foreclosures
- Licensure of Property Managers
- Montana Residential Landlord and Tenant Act
- Montana Unit Ownership Act – Condominiums

 

Regulatory Information

Montana License Law - Montana Board of Realty Regulation

 

Prerequisites

n/a

 

End of Course Instructions

An education reporting form attesting to the successful completion of the continuing education requirement must be submitted to the board by December 31 of each year. Filing of an education reporting form after December 31, but on or before February 15 will result in a late filing fee. No affidavit will be accepted after February 15. An incomplete education reporting form will not be accepted and will be returned to the licensee. Any form returned to the licensee must be properly completed and resubmitted before the December 31 deadline, or late filing fees will be required. Education reporting forms will be mailed to all real estate licensees at their last address of record. Failure to receive an education reporting form does not eliminate the reporting requirement. Each licensee is required to annually report continuing education.

 

Quiz Information

75% for quizzes

 

Exams

75% for final exam

 

Got questions? Contact us below or call 877-881-2235

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