HB773: Real estate brokers and agents; revise liability regarding disclosure statements.

Legislative Summary

An Act To Amend Section 73-35-4.1, Mississippi Code Of 1972, To Revise Liability For A Real Estate Licensee Regarding Disclosure Of The Size Or Area Of Property; To Amend Sections 89-1-505 And 89-1-523, Mississippi Code Of 1972, To Revise Liability For Certain Required Real Estate Disclosures; To Amend Section 89-1-527, Mississippi Code Of 1972, To Revise Liability For The Failure To Disclose Nonmaterial Fact; To Amend Section 89-1-503, Mississippi Code Of 1972, To Revise Liability For Failure Of A Transferor Of Real Property To Provide Certain Information; To Amend Sections 89-1-507 And 89-1-515, Mississippi Code Of 1972, To Remove References To Agents Of Transferors Of Real Property; To Amend Section 89-1-519, Mississippi Code Of 1972, To Provide That No Person Or Entity Shall Be Deemed The Agent Of The Transferor Or Transferee For Purposes Of The Disclosure Requirements Of Sections 89-1-501 Through 89-1-523; To Amend Section 89-1-523, Mississippi Code Of 1972, To Revise Liability Of Real Estate Licensees; To Amend Section 89-1-525, Mississippi Code Of 1972, To Clarify The Authority Of The Real Estate Commission; To Amend Sections 73-35-21 And 73-35-23, Mississippi Code Of 1972, To Revise The Authority Of The Real Estate Commission Regarding; To Repeal Sections 89-1-521 And 89-1-525, Mississippi Code Of 1972, Which Provide For Certain Disclosures And Penalties Of Licensed Real Estate Brokers And Salespersons; And For Related Purposes.