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This document is a legal addendum to a purchase agreement that informs buyers of potential lead-based paint hazards in residential properties built before 1978, detailing seller's obligations regarding
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How to fill out lead-based paint addendum
How to fill out Lead-Based Paint Addendum
01
Obtain the Lead-Based Paint Addendum form from your local housing authority or real estate office.
02
Fill in the property address and details of the seller and buyer at the top of the form.
03
Indicate the year the property was built, as properties built before 1978 require this addendum.
04
Review and complete the section that outlines if any lead-based paint or hazards are known to exist in the property.
05
Include any disclosures or documentation regarding lead-based paint, if available.
06
Both buyer and seller should sign and date the form to acknowledge understanding of the lead-based paint information.
Who needs Lead-Based Paint Addendum?
01
Anyone buying or leasing residential properties built before 1978 is required to complete the Lead-Based Paint Addendum.
02
Landlords renting out properties built before 1978 must provide this addendum to prospective tenants.
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People Also Ask about
In which situation would a lead-based paint disclosure not need to be made?
It is designed to help people make more informed choices based on the information they receive. However, the Lead-based Paint Disclosure Rule does not apply to: Zero-bedroom units, such as efficiencies, lofts, and dormitories (unless a child under the age of six lives or is expected to live in such housing);
Should I waive lead-based paint inspection?
Health Risks. Waiving lead inspections is equal to giving up on the opportunity to identify and mitigate potential lead hazards within your home. So, if you decide to go with this decision, you shall also be ready for an increased risk of lead exposure.
What does lead-based paint addendum mean?
(Lead-based paint is paint that contains 1.0 mg/cm2 or (0.5% by weight) or more lead.)
What are the exemptions for lead-based paint disclosure?
Health Risks. Waiving lead inspections is equal to giving up on the opportunity to identify and mitigate potential lead hazards within your home. So, if you decide to go with this decision, you shall also be ready for an increased risk of lead exposure.
What are the exceptions to lead-based paint disclosure?
Lead-based paint disclosure exemptions In addition to houses built in or after 1978, the following also qualify for an exemption from the disclosure rules: Dwelling units with no bedrooms, such as a studio apartment. Dwelling units that are leased for 100 days or fewer, such as short-term rentals.
What is a lead-based paint disclosure?
Yes, there are a few exceptions to the lead paint disclosure requirement for landlords. Most private and public housing is covered by this requirement, but exemptions generally include: Housing built during or after 1978. Dormitories, lofts, and efficiencies that don't have separate bedrooms.
Which of the following types of housing are exempt from lead-based paint disclosures?
Types of Housing Exempt from LBP Regulations: Housing built on or after January 1, 1978, when lead paint was banned for residential use. there for prolonged periods of time. military barracks. Property that has been found to be free of lead-based paint by a certified lead-based paint inspector.
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What is Lead-Based Paint Addendum?
The Lead-Based Paint Addendum is a document used in real estate transactions that informs buyers and tenants about the potential presence of lead-based paint in properties built before 1978.
Who is required to file Lead-Based Paint Addendum?
Sellers and landlords of residential properties constructed before 1978 are required to provide the Lead-Based Paint Addendum to potential buyers or tenants.
How to fill out Lead-Based Paint Addendum?
To fill out the Lead-Based Paint Addendum, the seller or landlord must disclose any known information about lead-based paint in the property, provide a copy of the EPA’s lead hazard pamphlet, and obtain signatures from the buyer or tenant acknowledging receipt of the addendum.
What is the purpose of Lead-Based Paint Addendum?
The purpose of the Lead-Based Paint Addendum is to protect buyers and tenants by ensuring they are aware of any risks associated with lead-based paint, facilitating informed decision-making regarding property purchases or rentals.
What information must be reported on Lead-Based Paint Addendum?
The Lead-Based Paint Addendum must report any known presence of lead-based paint, details about any lead paint hazards, the seller's or landlord's disclosures, and a statement that the buyer or tenant has received information on lead hazards.
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