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Lead Paint Warning
If it was
built before 1978
Information
on an Important Lead Base Paint Law
On December 6th, 1996
a new federal law became effective. This law applies to houses listed
with REALTORS as well as For Sale By Owners. If the house you are buying
was built before 1978, the seller must do the following.
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Inform the buyers or tenant before signing a contract or lease of
any lead paint known to exist and provide reports of such findings.
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Give buyers or tenants a free Environmental Protection Agency
brochure, entitled "Protecting Your Family From Lead in Your Home"
Penalties for not complying are up to a
$10,000
fine and or one year in prison plus the buyer or the
tenant who experiences health problems relating to undisclosed lead can
sue a seller, agent or landlord for three times the amount of damages
plus court cost and attorney fees.
Include in the sales
contract or lease agreement a disclosure statement concerning the
potential presence of lead paint and give buyers (but not tenants) 10
days if they choose to conduct lead inspections or risk assessment of
the property. Clients should be made aware of this before they make a
contract.
For full information on what must be done and the forms that must be
used, send us a request by clicking on the link below:
Click Here for the Form
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