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Mississippi real estate contract addendum Form: What You Should Know
The parties shall determine its suitability as a substitute for the specific forms that they intend to use and use only as needed in this transaction. All rights may be assigned to the purchaser or purchasers of the Property or any interest therein for cash or other consideration in any manner and for any terms of any kind and shall not be assigned without the prior written consent of the Seller. By accepting this Agreement the seller is entitled to the rights reserved herein. MANDATORY DISCLOSURE OF CONTRACTS AND LICENSES. (Duty to disclose) Any person entering into a Contract to Purchase or Sell Real Estate for a Fee Shall be deemed in default of such Contract if: (1) A person has knowledge of the same within 14 days of the execution of the Contract if the contract is with a Registered Agent, and if the information thus knowing is not disclosed to the Seller within 90 days of the execution of the Contract, or before such contract is entered into; or (2) (a) A person receives from the Seller information which the person knows to be, (i) false, misdirected or incomplete in material respects; or (ii) known by the person to be untrue or misidentified; or (b) the person, in good faith, has reason to believe that: (I) the information in the Contract to Purchase or Sale of real Estate is false, (II) the information furnished by the Seller is false, misdirected or incomplete in material respects unless it (III) is required by law to be furnished, or (IV) is not available to the person in compliance with law. MANDATORY DISCLOSURE OF LICENSED REALTOR COMPANIES AND LICENSED REALTOR HOMESTEADERS.
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