Mississippi legislation · 2026 Regular Session
Mississippi HB1682: Wholesalers; require certain written disclosures for when purchasing residential real estate for transfer to third party purchaser.
Status: Failed, February 3, 2026
AN ACT TO AMEND SECTION 73-35-3, MISSISSIPPI CODE OF 1972, TO REVISE THE DEFINITION OF REAL ESTATE BROKER TO INCLUDE PERSONS, PARTNERSHIPS, ASSOCIATIONS, COMPANIES AND CORPORATIONS WHO ENGAGE IN THE PRACTICE OR PROCESS OF WHOLESALING; TO DEFINE WHOLESALER; TO PROVIDE THAT EXEMPTIONS FROM LICENSING REQUIREMENTS DO NOT APPLY TO WHOLESALERS; TO REQUIRE WHOLESALERS TO PROVIDE CERTAIN WRITTEN DISCLOSURES TO HOMEOWNERS; TO RENDER INVALID ANY CONTRACT THAT DOES NOT INCLUDE THE REQUIRED DISCLOSURES; TO PROVIDE THAT THE DISCLOSURE REQUIREMENTS SHALL ONLY APPLY TO TRANSACTIONS INVOLVING RESIDENTIAL REAL ESTATE; TO AUTHORIZE THE MISSISSIPPI REAL ESTATE COMMISSION TO PROMULGATE ANY RULES NECESSARY TO IMPLEMENT THE PROVISIONS OF THIS ACT; AND FOR RELATED PURPOSES.
What the bill says
An act to amend section 73-35-3, mississippi code of 1972, to revise the definition of real estate broker to include persons, partnerships, associations, companies and corporations who engage in the practice or process of wholesaling; to define wholesaler; to provide that exemptions from licensing requirements do not apply to wholesalers; to require wholesalers to provide certain written disclosures to homeowners; to render invalid any contract that does not include the required disclosures…
From the introduced text:
AN ACT TO AMEND SECTION 73-35-3, MISSISSIPPI CODE OF 1972, TO REVISE THE DEFINITION OF REAL ESTATE BROKER TO INCLUDE PERSONS, PARTNERSHIPS, ASSOCIATIONS, COMPANIES AND CORPORATIONS WHO ENGAGE IN THE PRACTICE OR PROCESS OF WHOLESALING; TO DEFINE WHOLESALER; TO PROVIDE THAT EXEMPTIONS FROM LICENSING REQUIREMENTS DO NOT APPLY TO WHOLESALERS; TO REQUIRE WHOLESALERS TO PROVIDE CERTAIN WRITTEN DISCLOSURES TO HOMEOWNERS; TO RENDER INVALID ANY CONTRACT THAT DOES NOT INCLUDE THE REQUIRED DISCLOSURES; TO PROVIDE THAT THE DISCLOSURE REQUIREMENTS SHALL ONLY APPLY TO TRANSACTIONS INVOLVING RESIDENTIAL REAL ESTATE; TO AUTHORIZE THE MISSISSIPPI REAL ESTATE COMMISSION TO PROMULGATE ANY RULES NECESSARY TO IMPLEMENT THE PROVISIONS OF THIS ACT; AND FOR RELATED PURPOSES. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: SECTION 1. Section 73-35-3, Mississippi Code of 1972, is amended as follows: 73-35-3. (1) The term "real estate broker" within the meaning of this chapter shall include all persons, partnerships, associations, companies and corporations, foreign and domestic, who for a stated salary, fee, commission or other valuable consideration, or who with the intention or expectation of receiving or collecting the same, perform any of the following acts: *HR26/R1708* H. B. No. 1682 ~ OFFICIAL ~ G3/5 26/HR26/R1708 PAGE 1 (ELS\KW) (a) List * * * to sell, purchase, exchange, rent, lease, manage or auction any real estate, or the …