This Lead-Based Paint Disclosure statement is required by Federal Law when selling residential housing built prior to 1978. If the home was constructed PRIOR TO 1978, this form is REQUIRED to be completed and signed by the seller and buyer. If the dwelling was constructed in 1978 or later, this form is not required. If in doubt about the timing of construction, use the disclosure form. Whenever the form is used, the seller must also give the buyer the EPA pamphlet discussed below.
Fha Lead Based Paint Disclosure For Purchase
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How to fill out Georgia Lead Based Paint Disclosure For Sales Transaction?
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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?).
Painting Over Lead-Based Paint Painting over lead paint, or encapsulation, is only effective if the old finish of the lead paint is still in excellent condition ? that is, not peeling or chipped. In addition, the encapsulated area must be monitored over time to prevent exposure to lead paint chips and dust.
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.
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.
What is lead paint disclosure? NJ law requires that any potential buyer or lessor of a home or property be made aware of any currently known lead presence in the building, and of their future responsibilities as a property owner to ensure the building is lead-safe.