Agent

Lead-based paint raises red flag in real estate

Failure to disclose risks comes with big penalty

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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...