New Jersey 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. It informs potential buyers about the risks of lead exposure from lead-based paint and associated hazards within the property. This form is essential for ensuring that buyers are aware of any lead-related issues that may affect their health and safety, distinguishing it from other real estate transaction forms which may not address environmental concerns.
What’s included in this form
- Property identification: Includes the street address, city, state, and zip code.
- Lead warning statement: Alerts purchasers to potential exposure to lead-based paint and its hazards.
- Seller disclosure: Indicates whether lead-based paint or hazards are known in the property.
- Buyer's acknowledgment: Confirms the buyer's receipt of information and EPA pamphlet.
- Certification of accuracy: Ensures all parties confirm the truthfulness of the information provided.
Situations where this form applies
This form is necessary when selling residential properties built before 1978. It is crucial to provide this disclosure to ensure compliance with federal regulations and protect the health of the buyer and occupants, particularly young children and pregnant women who are more vulnerable to lead poisoning. If there is uncertainty regarding the property's construction date, it is best to use the form to avoid legal ramifications.
Who should use this form
- Home sellers of residential properties built before 1978.
- Real estate agents representing sellers in such transactions.
- Buyers interested in purchasing older residential properties.
Steps to complete this form
- Identify the property: Fill in the address of the dwelling being sold, including street, city, state, and zip code.
- Complete seller disclosure: Indicate whether lead-based paint or hazards are present and provide any relevant reports.
- Buyer acknowledgment: Make sure the buyer initials sections confirming receipt of disclosures and brochures.
- Include signatures: All parties, including sellers and buyers, must sign and date the disclosure.
- Distribute required materials: Provide the buyer with the EPA pamphlet on lead hazards.
Notarization guidance
Notarization is generally not required for this form. However, certain states or situations might demand it. You can complete notarization online through US Legal Forms, powered by Notarize, using a verified video call available anytime.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Avoid these common issues
- Failing to use the form for properties built before 1978.
- Not providing the buyer with the EPA pamphlet.
- Inadequately disclosing known lead hazards.
- Forgetting to obtain buyer initials and signatures.
Why use this form online
- Convenience of immediate access and download.
- Easily editable sections to ensure accurate and pertinent information.
- Reliability of forms drafted by licensed attorneys to ensure compliance with legal standards.
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FAQ
Although there's no list of required disclosures a seller must make according to New Jersey's statutes, the state's courts have carved out rules (under what's called the "common law") to protect buyers against sellers who fail to disclose material facts or who hide information about their property.
The lead-based paint disclosure form is a required form to be issued to all tenants and potential buyers for residential properties built before 1978.The forms were written to warn any new owners or tenants of the potential existence of this within the interior walls of the residence.
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.
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.
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.
Immediately clean up any paint chips you find. Keep play areas clean. Don't let children chew on painted surfaces. Clean dust off of window sills and other surfaces on a regular basis, using a sponge, mop, or paper towels with warm water.
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.
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.
