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Judicial
Lenders, together with attorneys, conduct closings. Conveyance is by warranty deed. Mortgages are the security instruments. Foreclosures require about 6 months, including the redemption period. North Dakotans base their title insurance on abstracts and attorneys’ opinions. Buyers usually pay for the closing, the attorney’s opinion, and the title insurance; sellers pay for the abstract. There are no documentary or transfer taxes. Property taxes are due March 15th and October 15th.
Due March 15th and October 15th
YES. A key component of property management (leasing) is considered a real estate activity under existing North Dakota real estate licensing laws. If a property manager is going to lease, list, procure prospects or negotiate, assist, or offer to perform any of those acts, he or she will need a broker's license. A salesperson working under a broker may engage in such activities. However, if a property manager is not engaged in leasing activities, a real estate broker's license is not required.
YES. For example, bona fide owner of residential property and their regular employees are exempt when their work is in the regular course of or as an incident to the management of the property. For more information about these and other North Dakota property management requirements and exceptions, please contact the North Dakota Real Estate Commission. Before hiring a property manager to manage your North Dakota rental property, you should always check that he or she is licensed appropriately. You can check the license status of North Dakota property managers using the Commission's License Search Page.
There is no requirement that a community association manager or condo association manager in North Dakota hold a real estate broker's license.
Lenders, together with attorneys, conduct closings. Conveyance is by warranty deed. Mortgages are the security instruments. Foreclosures require about 6 months, including the redemption period. North Dakotans base their title insurance on abstracts and attorneys’ opinions. Buyers usually pay for the closing, the attorney’s opinion, and the title insurance; sellers pay for the abstract. There are no documentary or transfer taxes. Property taxes are due March 15th and October 15th.
Due March 15th and October 15th
Warranty deed
