A Montana property disclosure statement is a form executed by a property owner to highlight any adverse material facts concerning their property and assist potential buyers in assessing a home’s condition. An “adverse material fact” is defined as a fault found in the property significant enough to lower a property’s value, risk the safety and well-being of any occupants, or warrant a buyer to withdraw a purchase offer.
While providing a property disclosure statement or performing a home inspection is not required for transfers of real estate, a property owner’s agent who has knowledge of adverse material facts must relay them to prospective purchasers during the negotiation process. Furthermore, an agent is not responsible for verifying any statements provided on a property owner’s disclosure statement.
Laws – § 37-51-313(3)(a)
Purchase Agreement – Before entering into a purchase agreement, owners are required to complete disclosures informing the buyer if a property is served by a private water supply system or contains traces of hazardous elements such as lead, meth, mold, or radon. If the property being transferred is part of a condominium (or similar edifice), the owner must provide the buyer a copy of the Unit Ownership Act.