THE RESIDENTIAL LEAD-BASED PAINT HAZARD REDUCTION ACT OF 1992 (AKA “Title X”) states that if you are selling a home built before 1978, you must comply with the following procedures: • Give an EPA-approved information pamphlet on identifying and controlling lead-based paint hazards. • Disclose any known information concerning lead-based paint or lead-based paint hazards. The seller must also disclose information such as the location of the lead- based paint and the condition of the painted surfaces. • Provide any records and reports on lead-based paint or lead-based paint hazards that are available to the seller. • Include an attachment to the sales contract that includes a Lead Warning Statement and confirms that the seller or landlord has complied with all notification requirements. Sellers and homebuyers must sign and date the attachment. • Sellers must provide homebuyers a 10-day period to conduct a paint inspection or risk assessment for lead- based paint or lead-based paint hazards. Title X requirements allow the buyer to sue you for triple the amount of damages suffered from the exposure. To make sure you won’t have to triple-pay, triple-check that you have done all you can to disclose any potential hazard materials in your home. For more information, visit the EPA website: www.epa.gov/lead.
WHEN IN DOUBT, DISCLOSE
The best way to ensure no repercussions of liability from lack of disclosure is to disclose any known issues.
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