Lead Based Paint Addendum To Sales Contract

State:
Georgia
Control #:
GA-LEAD1
Format:
Word; 
Rich Text
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Description

The Lead Based Paint Addendum to Sales Contract serves as a critical disclosure tool for residential property transactions involving properties built prior to 1978. This form alerts purchasers about potential lead-based paint hazards which can lead to serious health risks, especially for young children and pregnant women. Key features of the addendum include a requirement for sellers to disclose any known presence of lead-based paint, the availability of records related to lead hazards, and an acknowledgment section for both the purchaser and their agents to confirm receipt of this information. Users should follow clear filling instructions, including checking boxes to indicate knowledge of hazards, providing available documents, and signing the certification of accuracy. The addendum is essential for attorneys, partners, owners, associates, paralegals, and legal assistants as it helps ensure compliance with federal regulations and protects against potential legal liabilities. Its structured format allows for easy adaptation during real estate transactions, while also emphasizing the importance of safety in housing.
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  • Preview Lead Based Paint Disclosure for Sales Transaction
  • Preview Lead Based Paint Disclosure for Sales Transaction

How to fill out Georgia Lead Based Paint Disclosure For Sales Transaction?

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FAQ

Which of the following may be exempt from the Lead-Based Paint disclosure requirements? Short-term rental, Housing for elderly or handicapped, and Loft or efficiency Unit.

Buildings built before 1978 are much more likely to have lead-based paint. Federal law requires you to provide certain important information about lead-based paint and/or lead-based paint hazards before a prospective buyer is obligated under a contract to purchase your home.

Section 1018 of this law directed HUD and EPA to require the disclosure of known information on lead-based paint and lead-based paint hazards before the sale or lease of most housing built before 1978.

If you own a house built before 1978, and wish to either sell or rent it out, it's important to understand your obligations when it comes to the federal Lead Residential Lead-Based Paint Disclosure Program. In most cases involving housing built prior to 1978, compliance with the program is necessary.

Disclose any known information concerning lead-based paint or lead-based paint hazards. The seller or landlord must also disclose information such as the location of the lead-based paint and/or lead-based paint hazards, and the condition of the painted surfaces.

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Lead Based Paint Addendum To Sales Contract