Who Needs To Have A Lead Based Paint Disclosure?

Selling a residential property in the U.S. entails a lot of paperwork. These include a counter offer, real estate contracts, appraisal report, home warranty, title of the property and disclosure forms among many others. Disclosure forms are submitted in the initial stage of the sales process usually after a seller receives an offer to purchase real estate from a potential buyer.

Disclosures are required by real estate law and are seen as protection for home buyers. Submitting disclosure forms beforehand also gives a good impression to buyers that the seller is honest enough to inform them of the condition of the home. Disclosures are basically of two types – those concerning the physical condition of the home and those that pertain to the use of lead-based paint.

Section 1018 of the Residential Lead-Based Paint Hazard Reduction Act of 1992 called for the Housing and Urban Development (HUD) and Environment Protection Agency (EPA) to require the disclosure of lead-based paint and its possible hazards before the sale or lease of homes built before 1978.

Types of housing covered in this law are private and public housing, those owned by the Federal government and those receiving Federal assistance. This rule took effect on September 6, 1996 for real estate transactions that involve owners of more than four homes. Homeowners with one to four residential properties were covered beginning December 6, 1996.

This is vital because lead-based paint is hazardous to people’s health and a home that used this kind of paint has a potential of causing health problems to occupants. Lead is a toxic metal that can to health issues notably in children. When absorbed by the body, lead can affect the brain, kidneys, nerves and blood. It can also lead to problems in behavior, learning and in worse cases, death.

Specifically, the disclosure should reveal any information on the use of lead-based paint as well as its location in the house and its adverse effects. It should also be accompanied by a pamphlet entitled "Protect Your Family From Lead In Your Home" approved by the EPA that contains information on how to identify and control lead-based paint hazards to avoid health problems.
Some steps homeowners can do to avoid being contaminated include mopping floors, vacuuming carpets and upholstery weekly to remove dust, wiping down flat surfaces and picking up loose paint chips with a paper towel and throwing them away.

Home sellers and landlords are also required to give any records or reports on lead-based paint and its hazards available to them. In addition to the disclosure form, they should likewise provide an attachment to the sales contract or lease agreement specifying a lead warning statement confirming that they have complied with the necessary notification requirements. This attachment must be signed by the sellers and buyers or the landlords and tenants and should bear the date they affixed their signatures.

A 10-day period is normally given to home buyers to conduct a paint inspection. The time period, however, may be shortened or lengthened depending on the agreement of the parties which must be in writing. Buyers can also opt to waive the inspection if they wish.

Always be cautious when buying a home especially if it’s constructed before 1978. Doing your homework before making a final decision is very vital. Download a lead based paint disclosure by visiting: http://www.legalhomeforms.com/lead-based-paint-disclosure.htm