Lead Disclosure Rule

State:
Delaware
Control #:
DE-LEAD1
Format:
Word; 
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Description

The Lead-Based Paint Disclosure form is vital for real estate transactions involving residential properties built before 1978, where lead-based paint hazards may exist. It informs buyers of potential lead exposure risks, emphasizing the importance of lead warning statements and the necessity for sellers to disclose any known lead paint hazards. The form requires sellers to check their knowledge of lead-based paint presence and provide relevant records or reports, thus ensuring transparency in property dealings. Additionally, it outlines the purchaser's acknowledgment of having received crucial information, including the EPA pamphlet, and their opportunity to conduct inspections. The agent's acknowledgment reinforces their responsibility to comply with federal regulations. This form is crucial for attorneys, partners, owners, associates, paralegals, and legal assistants as it aids in risk management, ensures compliance with federal laws, and protects clients from potential legal ramifications related to lead paint hazards, fostering informed decision-making in property transactions.
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  • Preview Lead Based Paint Disclosure for Sales Transaction
  • Preview Lead Based Paint Disclosure for Sales Transaction
  • Preview Lead Based Paint Disclosure for Sales 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?).

The condition of the paint could offer a clue whether it contains lead. 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.

Although lead has been banned from household paints in the United States since 1978, it may still be found in road marking paint.

This law is commonly known as Title X (Ten). Environmental Protection Agency (EPA) regulations implementing Title X apply to rental property built before 1978. Under Title X, before signing or renewing a lease or rental agreement, a landlord must disclose any known lead-based paint or hazards on the property.

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Lead Disclosure Rule