Home Disclosure Law, Mississippi

[ralphIII]

What is the name of your state? MISSISSIPPI

What is the Disclosure law for Mississippi in regards to owner selling their residence?

Have a problem where potential buyers where made aware of a flood condition and given some specific dates, verbally. They were made aware of this by the owners and by a recommended/reputable Insurance agency. The agent informed the potential buyers they would have to get flood insurance through the Federal Government. Due to laws in regards to limitations on past flood claims. They did not choose to insure with this agency but the agent retains his notes in regards to this.

They continued with process and eventually bought the property. Part of their claim now is they cannot get flood inurance, which is false, and are threatening a lawsuit. Seeking full recovery in the transaction of home sale. Which they have now occupied for 6mo. or so.

They acknoweldge the verbal conversation above. They were also fully aware the property was located in a flood zone. In addition it is noted on the appraisal paperwork which they had done in preparation of buying.

IS VERBAL DISCLOSURE SUFFICIENT IN THIS CASE OR IS WRITTEN DISCLOSURE ABSOLUTE? ARE THERE ANY CASE LAWS IN REGARDS TO THIS? THANKS A LOT!!

[HomeGuru]

Originally Posted by ralphIII

What is the name of your state? MISSISSIPPI

What is the Disclosure law for Mississippi in regards to owner selling their residence?

Have a problem where potential buyers where made aware of a flood condition and given some specific dates, verbally. They were made aware of this by the owners and by a recommended/reputable Insurance agency. The agent informed the potential buyers they would have to get flood insurance through the Federal Government. Due to laws in regards to limitations on past flood claims. They did not choose to insure with this agency but the agent retains his notes in regards to this.

They continued with process and eventually bought the property. Part of their claim now is they cannot get flood inurance, which is false, and are threatening a lawsuit. Seeking full recovery in the transaction of home sale. Which they have now occupied for 6mo. or so.

They acknoweldge the verbal conversation above. They were also fully aware the property was located in a flood zone. In addition it is noted on the appraisal paperwork which they had done in preparation of buying.

IS VERBAL DISCLOSURE SUFFICIENT IN THIS CASE OR IS WRITTEN DISCLOSURE ABSOLUTE? ARE THERE ANY CASE LAWS IN REGARDS TO THIS? THANKS A LOT!!

**A: disclosure must be in writing.

[ralphIII]

Mississippi. Thanks for the reply. What is the extent of liability? Are the previous owners just liable for damages caused by a recent flood or can the sale of the home actually be reversed?

Where do I find this in the Mississippi Code? Thanks again!!!!

[HomeGuru]

Originally Posted by ralphIII

Mississippi. Thanks for the reply. What is the extent of liability? Are the previous owners just liable for damages caused by a recent flood or can the sale of the home actually be reversed?

**A it depends on the causes of action and proven evidence. In some cases, recsision is adjudicated by the court.
********

Where do I find this in the Mississippi Code? Thanks again!!!!

**A: look under the state statutes.