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NOTIFICATION and DISCLOSURE Form
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People also ask
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What does lead paint disclosure mean?
Lead Warning Statement The seller of any interest in residential real property is required to provide the buyer with any information on lead-based paint hazards from risk assessments or inspections in the seller's possession and notify the buyer of any known lead-based paint hazards. -
Is lead-based paint disclosure required on FHA refinance?
FHA lead-based paint disclosure Some homes built before 1978 contained walls with lead-based paint, which was harmful to children and pregnant women. If you're buying an older home built in this timeframe, you'll need to fill out a lead-based paint disclosure to acknowledge the issue. -
Which of the following properties requires a lead disclosure?
Buildings built before 1978 are much more likely to have lead-based paint. Federal law requires you to provide certain important information about lead-based paint and/or lead-based paint hazards before a prospective buyer is obligated under a contract to purchase your home. -
Who must receive the lead-based paint disclosure?
This requires that potential buyers and renters of housing built prior to 1978 receive certain information about lead and lead hazards in the residence prior to becoming obligated to buy or rent, and provides the opportunity for an independent lead inspection for buyers. -
Which of the following properties requires a lead-based paint disclosure?
If you own a house built before 1978, and wish to either sell or rent it out, it's important to understand your obligations when it comes to the federal Lead Residential Lead-Based Paint Disclosure Program. In most cases involving housing built prior to 1978, compliance with the program is necessary. -
In which situation would a lead-based paint disclosure need to be made?
Section 1018 of this law directed HUD and EPA 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. -
What is the penalty for failing to comply with federal lead-based paint disclosure?
The Director of the Office of Lead Hazard Control and Healthy Homes, or his or her designee, may initiate a civil money penalty action against any person who knowingly violates 42 U.S.C. 4852d. (b) Amount of penalty. The maximum penalty is $21,018 for each violation.
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