Mississippi Seller's Residential Real Estate Disclosure Statement
SUMMARY OF RESIDENTIAL
PROPERTY DlSCLOSURE ACT
GUIDELINES
The Residential Property Disclosure Act ("Act)', requires
owners of residential real estate to furnish purchasers a Residential
Property Disclosure Statement ("Statement'). A version of the
Act has been adopted by 29 States.
The Act generally covers the transfer of residential property--from
a single family dwelling unit to buildings containing up to four dwelling
units. In some states, the Act applies regardless of the involvement of
a real estate agent and may apply whether the property is to be sold, exchanged,
optioned or purchased under a lease with option to purchase.
Certain transactions are exempted from the Act such a forced sales,
foreclosures, and other transactions.
The form you have found is the required disclosure form for Mississippi.
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