MISSISSIPPI LEGISLATURE

1997 Regular Session

To: Judiciary B

By: Representative Frierson

House Bill 1367

AN ACT TO AMEND SECTION 89-1-509, MISSISSIPPI CODE OF 1972, TO REVISE THE SELLER'S DISCLOSURE STATEMENT FORM FOR REAL ESTATE TRANSFERS; AND FOR RELATED PURPOSES. 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. Section 89-1-509, Mississippi Code of 1972, is amended as follows:

89-1-509. The disclosures required by this act pertaining to the property proposed to be transferred are set forth in, and shall be made on a copy of, the following disclosure form:

"FOR RESIDENTIAL DWELLINGS ONLY

SELLER'S DISCLOSURE STATEMENT

The following is a Disclosure Statement, made by the Seller, concerning the condition of the property located at: ___________ _____________________________________. This Disclosure is not a warranty of any kind by the Seller or any Agent of the Seller in this transaction and is not a substitute for any inspections or warranties the Purchaser may wish to obtain. This statement may be made available to other parties and is to be attached to the Listing Agreements (signed by Owner).

TO THE SELLER: Please complete the following form, including any past history of problems if known. If the condition or question does not apply to your property, mark "N/A." DO NOT LEAVE ANY BLANK SPACES. Attach additional pages if necessary.

APPLIANCES/SYSTEMS

ITEM YES NO GAS/ELEC APPROX AGE REPAIRS LAST 2 YRS

Single Oven ___ ___ ________ __________ __________________

Double Oven ___ ___ ________ __________ __________________

Cook Top ___ ___ ________ __________ __________________

Microwave ___ ___ ________ __________ __________________

Dishwasher ___ ___ ________ __________ __________________

Disposal ___ ___ ________ __________ __________________

Trash

Compactor ___ ___ ________ __________ __________________

Ice Maker ___ ___ ________ __________ __________________

Hot Water Htrs___ ___ ________ __________ __________________

Refrigerator ___ ___ ________ __________ __________________

Washer/Dryer ___ ___ ________ __________ __________________

Central Air ___ ___ ________ __________ __________________

Central Heat ___ ___ ________ __________ __________________

Fireplace ___ ___ ________ __________ __________________

Chimney ___ ___ ________ __________ __________________

Septic/Treatment

Plant ___ ___ ________ __________ __________________

Other ___ ___ ________ __________ __________________

Other

Environmental ___ ___ ________ __________ __________________

POOL AND POOL EQUIPMENT (Gunite or Vinyl Liner) _______________

BURGLAR ALARM YES ___ NO ___ FEE $____________________

APPROXIMATE AGE OF HOUSE:_____ HOMEOWNER'S ASSOCIATION FEE $____

IF CONDO, MAINTENANCE FEE: $_____ PER ________________________

TOTAL TAXES: $_____________ HOMESTEAD FILED FOR 19___

AVERAGE ELECTRIC BILL (12 Months) $_______________

AVERAGE GAS BILL (12 Months) $_______________

Is there anything normally considered a part of the real estate that you do not plan to leave with the property? (i.e., chandeliers, ceiling fans, bathroom mirrors, etc.) _______________

Are there any needed repairs of which you are aware? ________ __________________________________________________________________

Are you aware of any problems which may exist on the property by virtue of prior uses such as, but not limited to, hazardous or toxic waste, asbestos components, lead-based paint, urea-formaldehyde insulation, radon gas, underground tanks, naturally occurring radiation or any past industrial uses of the premises? YES _____ NO _____

What is the approximate Square Footage of the Heated and Cooled Living Area in House? ____________________________________

Where did you get this figure? _____________________________

Are there any finished wood floors under any carpets? YES _____ NO _____

Has property previously flooded? YES _____ NO _____

Is Flood Insurance required? YES _____ NO _____

Are you aware of any foundation repairs made in the past?

YES _____ NO _____ If yes, when were they made and who was the contractor? _____________________________________________________

ROOF: AGE: _____ Are there any leaks? YES _____ NO _____ Repairs? ________________________________________________________

History of infestation, if any: (termites, carpenter ants, etc.): __________________________________________________________

Is the structure under termite contract? YES _____ NO ______

If yes, who is the contractor? ________________________________

Any treatments for infestation? YES _____ NO _____ Any repaired damage? YES _____ NO _____

Are there any rights-of-way, easements, or similar matters that may affect your interest in the property?

YES _____ NO _____ UNKNOWN _____

Has there been major damage to the property or any of the structures from fire, wind, floods or any other disaster?

YES _____ NO _____ Please describe: _____________________ ________________________________________________________________

Please state any other facts, information or problems (i.e., heating, cooling, electrical, plumbing, mechanical) relating to this property that would be of concern to a buyer: ____________ ________________________________________________________________

To the extent of the Seller's knowledge as a property owner, the Seller acknowledges that the information contained above is true and accurate for those areas of the property listed. Owner agrees to save and hold Broker harmless from all claims, disputes, litigations, and/or judgments arising from any incorrect information supplied by Owner, or from any material fact known by Owner which Owner fails to disclose, except that Broker is not held harmless to Owner in claims, disputes, litigations or judgments, arising from conditions of which Broker had actual knowledge. It is acknowledged and understood by the Owner that this information may be made available to other parties.

______________________________ ______________________________

SELLER DATE SELLER DATE"

SECTION 2. This act shall take effect and be in force from and after July 1, 1997.