Any property owner or realtor that deals with a home which has lead based paint is required by law to make a disclosure to the property buyer or tenant.
The lead based paint disclosure specifically applies to properties built before 1978 but properties developed after that may also be binding to this law if lead based paint has been used at any point in time.
The guide to lead based paint disclosure may be split into the following segments – Lead Warning Statement, Lessor’s or Seller’s Disclosure, Lessee’s or Buyer’s Acknowledgement, Agent’s Acknowledgement and Certification of Accuracy.
The lead warning statement which is the first part of the disclosure mentions that the property may have lead based paint or lead from materials such as paint chips and other fixtures.
This statement should also mention that lead based paint can be hazardous for people living in such a property, especially for pregnant women and kids.
The second part of the disclosure which is the lessors’s or seller’s disclosure should mention exactly what contains lead in the property and if there have been any changes or upgrades since the time the property contained the lead based paint.
Many homes may have been treated later to get rid of lead based paint and to ensure that the property is safely habitable.
Such details must be mentioned.
If a landlord or property management company is unsure of the extent to which lead based paint and other products have been used then that should be mentioned too.
Thereon, the disclosure should have a dedicated space for the lessor to sign and the prospective tenant or property buyer to acknowledge that they have received the disclosure and have thus accepted or rejected the proposition to move in or to buy the property.
The landlord or property management company must also provide a horde of different official records and reports.
The entire history of leases or ownership's must be provided, all reports pertaining to the property, the construction, its upgrades and treatments if any must also be furnished to the property buyer or tenant.
If there is a real estate agent or a company that acts as the facilitator of the deal then the agent or the company must also be a signatory to this disclosure and acknowledge being aware of the disclosure and all its associated facts.
The lead based paint disclosure should have an appendix that explains all the dangers of lead poisoning.
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