New Miss. law aids real estate brokers

Gov. Phil Bryant has signed into law Senate Bill 2559, known as the Commercial Broker Lien Act.

The new law allows a commercial real estate broker to obtain and foreclose upon a lien as a legal remedy against a property if the buyer/seller or lessee/lessor fails to pay the broker the agreed upon commission or fee.

The bill was authored by Sen. Will Longwitz, R-Madison.

Clarion Ledger