Kansas Lead Based Paint Disclosure for Sales Transaction
Overview of this form
The Lead-Based Paint Disclosure for Sales Transaction is a legal document required by federal law for the sale of residential properties built before 1978. This form serves to inform buyers about potential lead-based paint hazards in older homes, providing essential safety information and the legal responsibilities of the seller. Unlike other real estate forms, this disclosure specifically addresses lead risks, making it a critical step in the home-buying process for older properties.
Key parts of this document
- Lead warning statement notifying buyers of potential lead exposure risks.
- Sections for sellers to disclose known lead-based paint hazards.
- Opportunity for buyers to conduct risk assessments or inspections.
- Required distribution of the EPA pamphlet on lead safety.
- Certification section for accuracy, with signatures of seller, buyer, and agents.
Situations where this form applies
This form should be used whenever a residential property constructed prior to 1978 is being sold. It is necessary to provide this disclosure to the buyer, ensuring they are aware of any potential lead hazards before completing the transaction. This is particularly important when the home may harbor lead-based paint or dust that could pose health risks, especially to young children and pregnant women.
Who should use this form
This form is intended for:
- Sellers of residential properties built before 1978.
- Buyers looking to purchase older homes.
- Real estate agents and brokers involved in the sale process.
Instructions for completing this form
- Identify the property by filling in the street address, city, state, and zip code.
- Provide a lead warning statement and disclose any known lead paint hazards.
- Complete the section regarding available records and reports related to lead hazards.
- Ensure the buyer acknowledges receipt of all information and the EPA pamphlet.
- Gather signatures from all parties involved to certify the accuracy of the information provided.
Does this form need to be notarized?
This form usually doesn’t need to be notarized. However, local laws or specific transactions may require it. Our online notarization service, powered by Notarize, lets you complete it remotely through a secure video session, available 24/7.
Mistakes to watch out for
- Failing to provide the form if the home was built prior to 1978.
- Not including the EPA pamphlet with the disclosure.
- Inaccurately stating knowledge of lead-based paint conditions.
- Neglecting to secure signatures from all parties involved.
Why complete this form online
- Convenient access to downloadable legal templates without the need for in-office visits.
- Editability allows for customization based on specific property details.
- Reliability of attorney-drafted templates ensures compliance with federal laws.
Main things to remember
- This disclosure is essential when selling homes built before 1978 to protect buyers from lead exposure risks.
- Both seller and buyer must acknowledge receipt and understanding of the lead hazards.
- Failure to comply with disclosure requirements can result in significant penalties.
Form popularity
FAQ
Provide a 10-day period to conduct a paint inspection or risk assessment for lead-based paint or lead-based paint hazards. Parties may mutually agree, in writing, to lengthen or shorten the time period for inspection.
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.Inform the seller of his or her obligations under the Real Estate Notification and Disclosure Rule.
The Rule states that if an agent is involved in a transaction to sell target housing, the "Lead Warning Statement" must include a statement signed by the agent that the agent has informed the seller of the seller's legal obligations and that the agent is aware of his/her duty to ensure compliance with the Rule.
Under the Disclosure Rule, any seller or landlord must disclose information concerning lead-based paint and/or lead-based paint hazards when selling or leasing to any prospective purchaser or tenant of residential housing. The residential housing covered by the Disclosure Rule are those units built before 1978.
The seller of any interest in residential real property is required to provide the buyer with any information on lead-based paint hazards from risk assessments or inspections in the seller's possession and notify the buyer of any known lead-based paint hazards.
Correct Before the purchaser or lessee is obligated under a contract for sale or lease. Purchasers or lessees must receive the lead-based paint disclosures before they become obligated under a contract for sale or lease, which generally occurs when the contract or lease is signed. 5.
