Agency
A Mississippi buyer's agent discovers that the property's seller is also a real estate licensee who did not disclose their licensed status in the purchase contract. This undisclosed fact:
AHas no legal significance
BIs a potential violation of Mississippi license law requiring licensees to disclose their licensed status when buying or selling real property✓ Correct
COnly matters if the seller is also a broker
DOnly requires disclosure in commercial transactions
Explanation
Mississippi license law requires licensees to disclose their licensed status when they have a personal interest in a real estate transaction — buying or selling property. Failure to disclose can be a disciplinary violation.
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