MS SB2425

Reenacts sections 85-7-501 through 85-7-525 of the Mississippi Code establishing the "Commercial Real Estate Broker Lien Act" to allow licensed real estate brokers to file liens on commercial real estate for unpaid compensation.

Requires brokers to file notice of lien with the chancery clerk before property conveyance and serve notice on property owners by certified mail or personal service; lien is void if service requirements are not met.

Brokers must file suit to enforce liens within one year of filing notice or the lien is extinguished; liens on commercial real estate with installment or renewal payments may be renewed annually for up to one year after conveyance if filed within 90 days of payment due date.

Liens are subordinate to all deeds of trust, mortgages, purchase money mortgages, tax liens, and other liens afforded priority by law or recorded before the broker's lien is recorded.

Repeals section 85-7-527 that had previously scheduled the repeal of the entire Commercial Real Estate Broker Lien Act, making the lien provisions permanent effective July 1, 2017.