MS HB773

Real estate licensees are exempt from liability and disciplinary action for errors, inaccuracies, or omissions in property condition disclosure statements required under Mississippi Code Sections 89-1-501 through 89-1-523

Licensees providing third-party property size/area information (from appraisers, surveyors, tax assessors, or builders) must identify the source but have no duty to independently verify accuracy and cannot be held liable for conflicting measurements

The Mississippi Real Estate Commission is prohibited from promulgating rules or taking disciplinary action against licensees related to property disclosure requirements

Transferors (sellers) remain responsible for disclosure accuracy only for information within their personal knowledge, while failure to disclose non-material facts (such as deaths, crimes, or prior occupants with HIV/AIDS) cannot give rise to legal action

Civil actions for disclosure violations must be filed within 2 years of property transfer, with remedies limited to actual damages (no punitive damages), and the prevailing party may recover attorney fees and court costs