42.20.203 EXEMPTIONS FROM DISCLOSING SALE PRICE
(1) Certain types of property are exempt from the Realty Transfer Act provisions, which require the disclosure of sales information. Land that is currently classified by the department as agricultural land that will continue in an agricultural use is exempt from the sales disclosure provisions of the Act because the department is required by law to assess agricultural land on the basis of its productive ability rather than its market value. The exemption does not apply to parcels that fail to meet the requirements of 15-7-202 , MCA. The other exempt transfers are sales that are not arm's-length transactions or involve sales to a government entity. Since these transactions are not reliable indicators of market value, the sales information is not useable for assessment purposes.
History: 15-7-306, MCA; IMP, 15-7-307, MCA; NEW, Eff. 10/4/76; AMD, 2002 MAR p. 3723, Eff. 12/27/02; AMD, 2005 MAR p. 1594, Eff. 8/26/05.