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MS HB1323

Bill

Status

Failed

3/6/2012

Primary Sponsor

Scott DeLano

Click for details

Origin

House of Representatives

2012 Regular Session

AI Summary

  • Real estate licensees are not required to disclose property size or area, and any size information provided is not a warranty or guarantee

  • If a licensee provides third-party size information (from appraisers, surveyors, tax assessors, or builders), the licensee must identify the source of that information

  • Real estate licensees have no duty to independently investigate or verify the accuracy of property size or area information

  • Licensees who comply with source disclosure requirements have no liability for damages from conflicting measurements or size opinions, excluding exemplary or punitive damages

  • 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

Full Bill Text

No bill text available