Agent

Lead-based paint raises red flag in real estate

Failure to disclose risks comes with big penalty

Are you the buyer, seller, tenant, landlord or real estate broker involved with the sale or lease of a house, condo or apartment built before 1978? If you are, the federal Residential Lead-Based Paint Reduction Act (RLPHRA) applies to you. Lead-based paint was banned by the Federal Consumer Product Safety Commission in 1978. The reason was lead-based paint exposure can harm individuals exposed to contaminated dust, soil or deteriorated paint. Small children are especially vulnerable if they play around or ingest lead-based paint chips. Purchase Bob Bruss reports online. To enforce this ban on lead-based paint and limit damages, in 1992 Congress enacted RLPHRA, which requires residential sellers, landlords and their real estate agents of pre-1978 residences to (a) disclose if they know of lead-based paint and (b) provide buyers and tenants with an information booklet about lead-based paint. But the federal law does not require sellers and landlords to remove lead-based paint. WHAT...

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