Beware of homes built before 1978

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Most buyers, sellers, landlords and realty agents still don't understand the simple, but potentially costly, liability disclosure rules for pre-1978 houses, condos and apartments. "What the heck is he talking about?" I can hear you say. If you are involved with selling or leasing a residential property built before 1978, chances are nine in 10 the property contains lead-based paint, which can be potentially dangerous to residents unless the paint is in good condition. Purchase Bob Bruss reports online. The Federal Consumer Product Safety Commission banned lead-based paint in 1978. The reason is that lead-based paint can be harmful to individuals -- especially small children -- who are exposed to contaminated dust, soil or deteriorated paint. In 1992, to enforce the ban, Congress enacted the Residential Lead-Based Paint Reduction Act (RLPHRA) to establish the simple disclosure rules. This federal law does not require sellers and landlords to remove lead-based paint, just disclose it. Ho...