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Real property

property disclosure statement

A property disclosure statement is a written document provided by a seller of real property to the prospective buyer stating that the property has a material or significant problem or defect and disclosing the nature of the problem or defect—or stating the seller is unaware of any such problems or defects.

In Mississippi, a property disclosure statement is a requirement in the process of selling residential real estate. The Mississippi Real Estate Commission provides a Residential Property Condition Disclosure Statement form that sellers are required to complete. This form requires the seller to disclose any known material or significant defects in the property. The disclosure covers various aspects of the property, including the condition of the roof, foundation, electrical systems, plumbing, heating and air conditioning, and any known issues with pests, environmental hazards, or legal disputes affecting the property. The purpose of this disclosure is to inform the buyer of the condition of the property before the sale is completed. If a seller knowingly withholds information about defects, they could be held liable for fraud. However, it's important to note that the disclosure requirements may not apply to certain types of property sales, such as foreclosure sales or transfers between family members.

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Real property

property disclosure statement

Individual & Family Legal Plan

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Mississippi State Code

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Real property

property disclosure statement

Mississippi State Code