Oregon Lead Based Paint Disclosure With No Lease
Description
How to fill out Oregon Lead Based Paint Disclosure For Rental Transaction?
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FAQ
Lender requires as a condition to the making of the Mortgage Loan that Borrower develop, implement and carry out an operations and maintenance plan for the containment or removal of paint containing more than one-half percent (0.5%) lead by dry weight (?Lead-Based Paint?) on the Mortgaged Property (?O&M Plan?).
Look at the condition of the paint One of the telltale signs of lead in paint is ?alligatoring,? which looks like reptilian scales when the layer starts to crack and wrinkle. If paint creates a chalky residue when it rubs off, it could also contain lead.
The landlord must give tenants an EPA booklet and the lease must include a disclosure form that informs tenants of any known lead-based paint and/or lead-based paint hazard in the home. This information must be given to the tenant every time there is a change in rental status, such as a rent increase or new lease.
This is especially true for homes built prior to 1950, but lead-based paints were widely used up to the time they were banned for residential purposes in 1978.
Ing to the Federal law, the landlord is required to disclose to you any knowledge that he or she has of lead-based paint (LBP) in the house. If he/she has no knowledge of LBP, he/she is not required to conduct an inspection or determine if lead-based paint is present.