Lead Based Paint
Lead paint disclosure is a requirement for sellers or lessors of real property built prior to 1978. The Federal Residential Lead-based Paint Hazard Reduction Act of 1992 was enacted to create awareness and communicate warnings regarding the risks associated with lead based patient exposure.
The act stipulates that –prior to any contract becoming binding- a seller/lessor/broker must:
- Disclose to the buyer/renter any known lead based paint hazards
- Provide the buyer/renter with the federally approved pamphlet “Protect Your Family from lead in Your Home”
- Permit the buyer/renter ten days to conduct a risk assessment pertaining to lead in the home.
The act requires that the buyer/renter sign statements that they have been provided the above information and were properly informed.