Property Condition Disclosures
Six state items — one and a half times the salesperson's four, and the second-heaviest area on the Mississippi broker portion. The subject is Miss. Code Sections 89-1-501 through 89-1-527, the Real Estate Transfer Disclosure Requirements, and MREC's Property Condition Disclosure Statement (PCDS) form.
Scope, exclusions and who fills it in
Section 89-1-501(1) reaches transfers by sale, exchange, installment land sale contract, lease with an option to purchase, any other option to purchase, or ground lease coupled with improvements, of real property on which a dwelling unit is located, or a residential stock cooperative of not less than one nor more than four dwelling units, where the transfer is made by or with the aid of a licensed broker or salesperson. Subsection (2) excludes court-ordered transfers, foreclosure and default transfers, fiduciary transfers, transfers between co-owners, transfers to a spouse or a person in the lineal line of consanguinity, transfers under a divorce decree or property settlement, transfers to or from a governmental entity, and transfers of real property on which no dwelling is located. There is no exclusion for new construction, so a builder selling a house he has just finished owes the statement. The transferor — the seller — completes and delivers it (Section 89-1-503(1)); the MREC form instructs the seller to 'Complete this form yourself' and states that the representations are the seller's and not those of any licensee.
Timing, amendment and the buyer's exit
Delivery is 'as soon as practicable before transfer of title' in a sale, and 'as soon as practicable before execution of the contract' where the transfer is by real property sales contract or a lease with an option to purchase — and 'execution' is defined as the making or acceptance of an offer (Section 89-1-503(1)(a)-(b)). Compliance is indicated on the receipt for deposit, the contract, the lease, an addendum or a separate document. If the disclosure, or any material amendment of it, is delivered after the execution of an offer, the buyer has three (3) days after in-person delivery or five (5) days after delivery by deposit in the mail to terminate by written notice to the seller or the seller's agent, with earnest money fully returned. Section 89-1-515 lets a disclosure be amended in writing but makes the amendment subject to Section 89-1-503 — so a material amendment restarts the three-day or five-day clock. The seller must deliver an amended statement as soon as practicable on acquiring knowledge that makes the earlier one materially inaccurate, but is never required to do so after transfer of title or occupancy by the buyer, whichever is earlier. Section 89-1-507 forgives an inaccuracy caused by events occurring after delivery, and permits a clearly identified reasonable approximation where an item is genuinely unknown.
Stigma, and the licensee's unusual immunity
Section 89-1-527(1) provides that the fact or suspicion that property is or was the site of a natural death, suicide, homicide or felony crime — except illegal drug activity affecting the physical condition of the property — or the site of an act with no effect on the property's physical condition, or owned or occupied by a person affected or exposed to a disease not known to be transmitted through common occupancy including HIV and AIDS, 'does not constitute a material fact that must be disclosed.' Failure to disclose those gives rise to no criminal, civil or administrative action and is not a ground for terminating or rescinding the transaction; an intentional misrepresentation in answer to a direct inquiry is still actionable. Sex-offender registry information is treated the same way under subsection (2). Then comes the Mississippi peculiarity: HB 1271 (2024 Reg. Sess.), ch. 423, added Section 89-1-523(2) — no real estate licensee shall be subject to discipline or other action of any kind by any Mississippi licensing authority pertaining to information required to be disclosed by Sections 89-1-501 through 89-1-523, or its delivery — and Section 73-35-21(6), which forbids MREC to promulgate a rule or make an interpretation to the contrary. Section 89-1-503(2) adds that where a seller fails to deliver or leaves the statement partly blank, the prospective buyer is presumed on notice to inquire. The same act repealed Section 89-1-519. None of this touches the licensee's own duty under Section 73-35-21(1)(a) not to make a substantial misrepresentation.
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State-specific details
State exam facts
- State regulator
- Mississippi Real Estate Commission (MREC)
- Exam vendor
- PSI
- Prelicensing education
- 120 classroom hours (150 without 36 months of active salesperson experience)
- Passing score
- 75% national (60 of 80 points) and 80% state (32 of 40 points)
- Scored questions
- 115
- Time limit
- 240 minutes
Who regulates real estate brokers in Mississippi?
The Mississippi Real Estate Commission (MREC) licenses brokers and salespersons under the Real Estate Brokers License Law, Miss. Code Title 73, Chapter 35. MREC contracts with PSI to deliver the licensing exams.
What experience do I need before the Mississippi broker exam?
Miss. Code § 73-35-7 requires a resident broker applicant to be at least 21, legally domiciled in Mississippi, to have held an active salesperson license for the 12 months immediately preceding application, and to have completed 120 classroom hours of real estate courses. An applicant who has not held an active salesperson license for at least 36 months must instead complete 150 classroom hours in courses acceptable for degree credit at a college approved by the Southern Association of Colleges and Schools. MREC also requires a letter of reference from the applicant's bank.
How is the Mississippi broker exam structured?
PSI delivers 115 scored questions in two separately timed and separately scored portions: a 75-question national/general portion scored to 80 points in 2.5 hours, and a 40-question Mississippi state portion worth 40 points in 1.5 hours, 4 hours in total. You must pass each portion on its own — 75% (60 of 80 points) on the national and 80% (32 of 40 points) on the state. That 80% state cut is the strictest of any state we have measured.
What is on the Mississippi state portion?
PSI Candidate Information Bulletin 2348 publishes nine areas with their broker item counts: Powers and Duties of the Real Estate Commission (4), Licensing Requirements and License Maintenance (4), Property Condition Disclosures (6), Agency Disclosure and Duties to Parties (8), Out-of-State Brokers and Developers (3), Trust Accounts (3), Broker Responsibilities Including Supervision of Sales Associates (5), Records and Documents (4), and Advertising/Marketing/Internet (3).
Sources: https://test-takers.psiexams.com/api/content/bulletin/2348, https://www.mrec.ms.gov/wp-content/uploads/2026/07/MREC_LICENSE_LAW_2026_REVISED-7-01-2026.pdf, https://www.mrec.ms.gov/wp-content/uploads/2025/02/MREC_RULES_AND_REGULATIONS_REV_02-21-2025.pdf
In the Mississippi Real Estate Broker guide: A 60-question national practice exam, with a key that explains all four options and not just the right one. Practice here stays free.