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MS HB1323
Bill
Status
3/6/2012
Primary Sponsor
Scott DeLano
Click for details
AI Summary
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Real estate licensees are not required to disclose property size or area, and any size information provided is not a warranty or guarantee
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If a licensee provides third-party size information (from appraisers, surveyors, tax assessors, or builders), the licensee must identify the source of that information
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Real estate licensees have no duty to independently investigate or verify the accuracy of property size or area information
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Licensees who comply with source disclosure requirements have no liability for damages from conflicting measurements or size opinions, excluding exemplary or punitive damages
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A licensee may only be held liable for actual damages if they knowingly fail to disclose the source of third-party information, with civil actions limited to two years from property transfer and allowing court costs and attorney fees to the prevailing party
Legislative Description
Real estate brokers; shall not be liable for wrong square footage of property.
Last Action
Died In Committee
3/6/2012