Imagine buying a home and knowing that it had been used as a kind of “drug den” in the past. You buy it cheap, knowing that you can fix it up and turn over an excellent profit.
After you do, there is a question as to your liability and if you should disclose what used to happen in the home. Some would argue that you’ve lived there and fixed up the home, so it doesn’t matter. Others may believe that not disclosing this fact opens you up to liability if drugs are found or if someone breaks into the home looking for a past owner.
There aren’t as many disclosure requirements as you may think
It is not necessarily a requirement to disclose that drugs were once made in a home. However, as a seller, you may want to if you would like to protect yourself against future liability. Mississippi law requires you to disclose structural issues, land and site data, a history of pest infestations, roof information and information about the appliances and mechanical equipment that come with the home. Mississippi doesn’t require you to disclose that any crimes took place in the home either, as long as the crime didn’t affect the structure of the property in any way.
This is an important note because if the home’s structure was impacted by an explosion or was involved in a fire due to drugs, then you may be required to disclose that information. That’s something to discuss with your attorney as you prepare to sell the home and release information to the buyer. Our website has more information that you can browse.