Contracts
A Mississippi seller fails to disclose a known roof leak in the seller's disclosure statement, and the buyer discovers the leak after closing. The buyer may have a legal claim for:
ANo claim because the property was sold 'as-is'
BFraud or fraudulent concealment, and potentially rescission or damages✓ Correct
CMREC disciplinary action only
DA warranty claim against the builder
Explanation
Knowingly concealing a material defect in the disclosure form constitutes fraudulent misrepresentation. The buyer may seek rescission, damages, or both, depending on the circumstances and applicable statute of limitations.
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