Il Lead Based Disclosure Without Disclosure
Description
How to fill out Illinois Lead Based Paint Disclosure For Sales Transaction?
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FAQ
This requires that potential buyers and renters of housing built prior to 1978 receive certain information about lead and lead hazards in the residence prior to becoming obligated to buy or rent, and provides the opportunity for an independent lead inspection for buyers.
Individuals who knowingly fail to disclose the presence of lead in Illinois can be subject to strict penalties and fines. These can include up to one year in prison and up to $10,000 per violation. A buyer's real estate attorney can pursue remedy of up to triple damages against a seller or their agent.
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.
Yes. A disclosure report must be completely filled out and provided to the potential buyers. This report includes disclosing any material defects that you are aware of, including but not limited to issues with the septic tank, issues with drinking water, issues with excessive radon levels, or even any known flooding.
Lead Based Paint Disclosure Illinois Details All sellers with homes built prior to 1978 are required to fill out a lead based paint disclosure Illinois form and provide you, the buyer, with a lead-based paint educational booklet in any sale.