Lead Based Paint Disclosure…Don’t Forget!

Congress passed the Residential Lead-Based Paint Hazard Reduction Act of 1992, also known as Title X, to protect families from exposure to lead from paint, dust, and soil. Section 1018 of this law directed HUD and EPA to require the disclosure of known information on lead-based paint and lead-based paint hazards before the sale or lease of most housing built before 1978.

Lead Based Paint DisclosureReceived an offer on one of my listings this week.  The REALTOR was very well trained except for the Lead Based Paint.  She gave me a Lead Based Paint Disclosure signed and dated by the Buyer (which most of us do when the house was built before 1978).  However, I am reminding you all and myself, that the Lead Based Paint Disclosure needs to be signed first by the Seller, dated and filled out.   Then the Buyer signs and dates AND must have been given the Lead Base Paint brochure according to the law.

Maybe 10 years or so in the process of selling my brother’s home, I gave the selling agent a Lead Based Paint Disclosure but forgot to have my brother date it.  The Selling agent told me the Seller must sign and date before the Buyer – her office was audited by the federal agency  (EPA and HUD) in charge of Lead Based Paint and because several of the disclosures were not properly signed and dated, the office was fined a considerableLead Based Paint Brochure amount of money (and we are not talking 3 or 4 figures).

So I thought I would remind you all of the timeline of the lead base paint disclosure: Seller  first and date, then Buyer sign and date and the Buyer must be given the brochure describing how to protect themselves and their family from lead based paint.  Just a gentle reminder to keep us all out of trouble!!! I’ve included some additional info below and links over the right side of this post – you can download the required Lead Based Paint Brochure (in languages too!).

 

Until Next Monday…

Monday Mornings With Matey

Lead Based Paint in Older Homes

 Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards

Lead Warning Statement

Every purchaser of any interest in residential real property on which a residential dwelling was built prior to 1978 is notified that such property may present exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning. Lead poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems, and impaired memory. Lead poisoning also poses a particular risk to pregnant women. The seller of any interest in residential real property is required to provide the buyer with any information on lead-based paint hazards from risk assessments or inspections in the seller’s possession and notify the buyer of any known lead-based paint hazards. A risk assessment or inspection for possible lead-based paint hazards is recommended prior to purchase.

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