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This form is designed to inform tenants about the presence of lead-based paint and lead hazards in residential properties built before 1978, as required by federal and District of Columbia law. It
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How to fill out lead disclosure form
How to fill out Lead Disclosure Form
01
Obtain a copy of the Lead Disclosure Form from your real estate agent or state housing agency.
02
Fill in the property address at the top of the form.
03
Indicate the date of the transaction.
04
Identify the seller's name and any known participants in the transaction.
05
Answer all questions related to lead-based paint and the property condition.
06
Include any known lead hazards or disclosures made by the seller.
07
Sign and date the form, ensuring that all parties involved have completed their sections.
Who needs Lead Disclosure Form?
01
Home sellers whose properties were built before 1978.
02
Real estate agents facilitating transactions of older homes.
03
Buyers purchasing residential properties built prior to 1978.
04
Landlords renting out properties that meet the age criteria.
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People Also Ask about
What happens if the seller doesn't disclose lead paint?
Home sellers who fail to comply with federal disclosure responsibilities may be sued by the buyer for damages suffered. These can be quite hefty, especially if young children have developed a lead-related health problem (over $10,000, depending on the violation). Other penalties can also be imposed.
What is the 1018 lead disclosure rule?
EPA issued a rule under section 1018 of this law known as the Lead-Based Paint Disclosure Rule. It directs EPA and HUD 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.
Who fills out the lead-based paint disclosure?
Before a contract for housing sale or lease is signed, federal law requires sellers, landlords, real estate agents, and managers of rental properties to disclose any known information concerning the presence of lead-based paint and lead-based paint hazards.
What must be included in the language of a lead disclosure statement?
Provide a "Lead Warning Statement" to buyers or renters explaining, among other things, that lead from paint can pose health hazards if not managed properly. This can be an attachment to or as language inserted into the contract or lease. This should be in the same language as the rest of the contract.
What is a lead disclosure form?
Form for real estate professionals to use in sales transactions when sellers of residential real property are required to disclose to the buyer any known information on the property's lead-based paint hazards.
What is a disclosure form used for?
A disclosure statement is a financial document presented to a participant in a transaction that explains key information in plain language. These are provided for retirement plans to spell out the plan's rules, and with the contract for mortgages, auto, personal, and other kinds of loans.
What is a lead disclosure?
EPA issued a rule under section 1018 of this law known as the Lead-Based Paint Disclosure Rule. It directs EPA and HUD 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.
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What is Lead Disclosure Form?
The Lead Disclosure Form is a document used in real estate transactions to inform potential buyers or renters about the presence of lead-based paint and the associated hazards in residential properties built before 1978.
Who is required to file Lead Disclosure Form?
Sellers and landlords of residential properties built before 1978 are required to file the Lead Disclosure Form as part of the transaction process in order to comply with federal regulations.
How to fill out Lead Disclosure Form?
To fill out the Lead Disclosure Form, the seller or landlord must provide details about known lead-based paint and lead hazards in the property, include any available records or reports related to lead paint, and ensure the buyer or renter acknowledges receipt of the disclosure.
What is the purpose of Lead Disclosure Form?
The purpose of the Lead Disclosure Form is to provide transparency regarding the presence of lead-based paint in older homes, thereby protecting public health by ensuring that buyers and renters are informed about potential lead exposure risks.
What information must be reported on Lead Disclosure Form?
The information that must be reported includes the presence of lead-based paint, any known lead hazards, any lead testing reports, and the acknowledgment from the buyer or renter confirming they have received this information.
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