A Montana rent-to-own lease agreement is a legal document that includes both a traditional lease agreement between and landlord and a tenant and an option for the tenant to purchase the property. As with other types of lease agreements, landlords and tenants may negotiate the terms in accordance with state law. Landlords may require additional payment in exchange for providing the tenant with the option to purchase the property.
Seller’s Disclosures
If the tenant does decide to purchase the property, landlords must make the following disclosures.
Lead-Based Paint Disclosure – Federal law requires this form for properties with dwelling units constructed prior to 1978.
Download: Adobe PDF
Mold Disclosure – According to § 70-16-703 of the Montana Code, sellers must include the following statement about mold in dwelling units:
MOLD DISCLOSURE: There are many types of mold. Inhabitable properties are not, and cannot be, constructed to exclude mold. Moisture is one of the most significant factors contributing to mold growth. Information about controlling mold growth may be available from your county extension agent or health department. Certain strains of mold may cause damage to property and may adversely affect the health of susceptible persons, including allergic reactions that may include skin, eye, nose, and throat irritation. Certain strains of mold may cause infections, particularly in individuals with suppressed immune systems. Some experts contend that certain strains of mold may cause serious and even life-threatening diseases. However, experts do not agree about the nature and extent of the health problems caused by mold or about the level of mold exposure that may cause health problems. The Centers for Disease Control and Prevention is studying the link between mold and serious health conditions. The seller, landlord, seller’s agent, buyer’s agent, or property manager cannot and does not represent or warrant the absence of mold. It is the buyer’s or tenant’s obligation to determine whether a mold problem is present. To do so, the buyer or tenant should hire a qualified inspector and make any contract to purchase, rent, or lease contingent upon the results of that inspection. A seller, landlord, seller’s agent, buyer’s agent, or property manager who provides this mold disclosure statement, provides for the disclosure of any prior testing and any subsequent mitigation or treatment for mold, and discloses any knowledge of mold is not liable in any action based on the presence of or propensity for mold in a building that is subject to any contract to purchase, rent, or lease.
Property Disclosure Statement – Although Montana law does not require a disclosure of conditions of the property, it is highly recommended.
Download: Adobe PDF
