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HB1127 • 2026

Rental-purchase agreements; establish certain rights and duties specific to agreements for a conveyance of real property.

AN ACT TO AMEND SECTION 75-24-153, MISSISSIPPI CODE OF 1972, TO REVISE THE DEFINITION OF THE TERM "RENTAL-PURCHASE AGREEMENT" AND TO DEFINE ADDITIONAL TERMS USED UNDER THE MISSISSIPPI RENTAL-PURCHASE AGREEMENT ACT; TO CREATE NEW SECTION 75-24-193, MISSISSIPPI CODE OF 1972, TO REQUIRE A LESSOR TO FILE A RENTAL-PURCHASE AGREEMENT FOR THE CONVEYANCE OF REAL PROPERTY IN THE COUNTY LAND RECORDS; TO AUTHORIZE A CONSUMER WHO FAILS TO MAKE TIMELY PAYMENTS TO REINSTATE A RENTAL-PURCHASE AGREEMENT FOR THE CONVEYANCE OF REAL PROPERTY BY PAYING ALL AMOUNTS DUE WITHIN FIFTEEN DAYS AFTER THE LAST PAYMENT WAS DUE; AND FOR RELATED PURPOSES.

Housing
Did Not Pass

The latest official action shows that this bill did not move forward in that session.

Sponsor
Hall
Last action
2026-02-03
Official status
Dead
Effective date
July 1, 20

Plain English Breakdown

The bill did not pass, so it has no legal effect.

Rental-Purchase Agreements for Real Property

This bill changes the definition of rental-purchase agreements involving real property and requires lessors to file these agreements in county land records.

What This Bill Does

  • Changes the definition of 'rental-purchase agreement' to include agreements for the conveyance of real property used as a residence.
  • Requires lessors to record rental-purchase agreements for real property in the county's land records where the property is located.
  • Allows consumers who miss payments on time to reinstate their rental-purchase agreement by paying all due amounts within 15 business days.

Who It Names or Affects

  • Lessors and consumers involved in rental-purchase agreements for real property.

Terms To Know

Rental-Purchase Agreement
An agreement where a consumer rents personal or real property with the option to buy it after making regular payments.
Lessor
A person who provides rental-purchase agreements and receives periodic payments from consumers.

Limits and Unknowns

  • The bill did not pass in its session.
  • It does not specify the consequences if a lessor fails to file an agreement as required.

Bill History

  1. 2026-02-03 Mississippi Legislative Bill Status System

    02/03 (H) Died In Committee

  2. 2026-01-19 Mississippi Legislative Bill Status System

    01/19 (H) Referred To Judiciary A

Official Summary Text

Rental-purchase agreements; establish certain rights and duties specific to agreements for a conveyance of real property.

Current Bill Text

Read the full stored bill text 
H. B. No. 1127 *HR26/R2126* ~ OFFICIAL ~ G1/2
26/HR26/R2126
PAGE 1 (GT\KW)

To: Judiciary A
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026

By: Representative Hall

HOUSE BILL NO. 1127

AN ACT TO AMEND SECTION 75-24-153, MISSISSIPPI CODE OF 1972, 1
TO REVISE THE DEFINITION OF THE TERM "RENTAL-PURCHASE AGREEMENT" 2
AND TO DEFINE ADDITIONAL TERMS USED UNDER THE MISSISSIPPI 3
RENTAL-PURCHASE AGREEMENT ACT; TO CREATE NEW SECTION 75-24-193, 4
MISSISSIPPI CODE OF 1972, TO REQUIRE A LESSOR TO FILE A 5
RENTAL-PURCHASE AGREEMENT FOR THE CONVEYANCE OF REAL PROPERTY IN 6
THE COUNTY LAND RECORDS; TO AUTHORIZE A CONSUMER WHO FAILS TO MAKE 7
TIMELY PAYMENTS TO REINSTATE A RENTAL-PURCHASE AGREEMENT FOR THE 8
CONVEYANCE OF REAL PROPERTY BY PAYING ALL AMOUNTS DUE WITHIN 9
FIFTEEN DAYS AFTER THE LAST PAYMENT WAS DUE; AND FOR RELATED 10
PURPOSES. 11
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 12
SECTION 1. Section 75-24-153, Mississippi Code of 1972, is 13
amended as follows: 14
75-24-153. The following words and phrases shall have the 15
meanings ascribed herein unless the context clearly indicates 16
otherwise: 17
(a) "Advertisement" means a commercial message in any 18
medium that aids, promotes or assists, directly or indirectly, a 19
rental-purchase agreement. 20
H. B. No. 1127 *HR26/R2126* ~ OFFICIAL ~
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(b) "Cash price" means the price at which the lessor 21
would have sold the property to the consumer for cash on the date 22
of the rental-purchase agreement. 23
(c) "Consumer" means a natural person who rents 24
personal property under a rental-purchase agreement to be used 25
primarily for personal, family or household purposes. 26
(d) "Consummation" means the time a consumer becomes 27
contractually obligated on a rental-purchase agreement. 28
(e) "Lessor" means a person who regularly provides the 29
use of property through rental-purchase agreements and to whom 30
periodic rental payments are initially payable on the face of the 31
rental-purchase agreement. 32
(f) (i) "Rental-purchase agreement" means an agreement 33
for the use of personal property by a natural person primarily for 34
personal, family or household purposes, for an initial period of 35
four (4) months or less that is automatically renewable with each 36
payment after the initial period, but does not obligate or require 37
the consumer to continue renting or using the property beyond the 38
initial period, and that permits the consumer to become the owner 39
of the property; or 40
(ii) An agreement for a conveyance of real 41
property to be used as the consumer's residence under which the 42
consumer makes regular rental payments and takes ownership of the 43
property once all rental payments have been made in full. 44
H. B. No. 1127 *HR26/R2126* ~ OFFICIAL ~
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(g) "Property" means personal property other than real 45
property which is primarily used for personal, family or household 46
purposes. 47
(h) "Real property" means all land, together with all 48
buildings, structures, improvements and fixtures, which is being 49
leased under a rental-purchase agreement. 50
SECTION 2. The following shall be codified as Section 51
75-24-193, Mississippi Code of 1972: 52
75-24-193. (1) Whenever a rental-purchase agreement is for 53
the conveyance of real property, the lessor shall record the 54
agreement in the land records of the county in which the property 55
is located. However, a rental-purchase agreement for the 56
conveyance of real property which is not filed in the land records 57
remains in full force and effect so long as both parties are in 58
compliance with the agreement. 59
(2) A rental-purchase agreement for the conveyance of real 60
property does not automatically convert to a month-to-month 61
tenancy upon the failure of the consumer to make a timely payment. 62
A consumer who fails to make a timely rental payment may reinstate 63
the agreement without losing any rights or options existing or 64
acquired under the agreement by paying all rental and other 65
charges due to the lessor within fifteen (15) business days from 66
the date of the last scheduled payment. 67
(3) A consumer may not exercise the right to reinstate a 68
rental-purchase agreement for the conveyance of real property 69
H. B. No. 1127 *HR26/R2126* ~ OFFICIAL ~
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PAGE 4 (GT\KW)
ST: Rental-purchase agreements; establish
certain rights and duties specific to agreements
for a conveyance of real property.
under this section on more than three (3) occasions during the 70
term of the rental-purchase agreement. Upon a fourth or any 71
subsequent failure of the consumer to timely pay rent, the lessor 72
may exercise all rights available under this chapter and the 73
rental-purchase agreement. 74
SECTION 3. This act shall take effect and be in force from 75
and after July 1, 2026. 76