MS HB1103

Real estate licensees are not required to disclose property size or area and such information does not constitute a warranty or guarantee if provided.

Real estate licensees have no duty to independently investigate or verify the accuracy of property size or area information from third parties.

When providing third-party size or area information (from appraisers, surveyors, tax assessors, or builders), licensees must identify the source of that information.

Real estate licensees may only be held liable for damages when they knowingly fail to disclose the source of third-party size or area information, limited to actual damages without exemplary or punitive damages.

Civil actions for violations must be brought within two years after property transfer, with prevailing parties entitled to court costs and reasonable attorney's fees; the act becomes effective July 1, 2013.