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Form MREC-AD2 Dual Agency Confirmation - Mississippi
What Is Form MREC-AD2?
This is a legal form that was released by the Mississippi Real Estate Commission - a government authority operating within Mississippi. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is Form MREC-AD2?
A: Form MREC-AD2 is the Dual Agency Confirmation form used in Mississippi.
Q: What is the purpose of Form MREC-AD2?
A: The purpose of Form MREC-AD2 is to confirm the dual agency relationship between a real estate licensee and both the buyer and seller in a transaction.
Q: When is Form MREC-AD2 used?
A: Form MREC-AD2 is used when a real estate licensee is acting as a dual agent, representing both the buyer and seller in a transaction.
Q: Why is dual agency disclosure important?
A: Dual agency disclosure is important to ensure transparency and informed consent in real estate transactions where there is a potential conflict of interest.
Q: Who is responsible for completing Form MREC-AD2?
A: The real estate licensee acting as a dual agent is responsible for completing Form MREC-AD2 and providing it to both the buyer and seller.
Q: Are there any legal requirements for dual agency disclosure in Mississippi?
A: Yes, in Mississippi, it is required by law for real estate licensees to provide dual agency disclosure to both the buyer and seller in writing.
Q: Can a buyer or seller refuse to work with a dual agent?
A: Yes, both the buyer and seller have the right to refuse to work with a dual agent and can choose to be represented by separate agents instead.
Q: What if a licensee fails to disclose dual agency?
A: Failing to disclose dual agency is a violation of real estate regulations and can lead to disciplinary action against the licensee.
Form Details:
- Released on February 1, 2001;
- The latest edition provided by the Mississippi Real Estate Commission;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a printable version of Form MREC-AD2 by clicking the link below or browse more documents and templates provided by the Mississippi Real Estate Commission.
