South Carolina Lead Based Paint Disclosure for Sales Transaction
About this form
The Lead Based Paint Disclosure for Sales Transaction is a legal document required by federal law when selling residential properties built before 1978. This form aims to inform buyers about potential exposure to lead-based paint hazards, which can pose serious health risks, especially to young children and pregnant women. Completing this disclosure ensures compliance with federal regulations and protects both buyers and sellers during real estate transactions.
What’s included in this form
- Property Identification: Includes details like street address, city, state, and zip code.
- Lead Warning Statement: A notice about the health risks associated with lead exposure.
- Sellers Disclosure: Sections for sellers to disclose knowledge of lead-based paint hazards.
- Purchasers Acknowledgment: An area for buyers to acknowledge receipt of the disclosure and the EPA pamphlet.
- Agent's Acknowledgment: Confirmation that the real estate agent has informed the seller of their obligations.
- Certification of Accuracy: A declaration verifying the truthfulness of the information provided in the form.
When to use this document
This form is necessary when you are selling a residential property constructed before 1978. If you suspect that lead-based paint is present in your home, completing this disclosure form is essential to inform potential buyers and fulfill federal legal requirements. It is recommended to use this form even if there is uncertainty regarding the year the dwelling was built.
Who can use this document
- Home sellers of properties built prior to 1978.
- Real estate agents representing sellers in transactions involving older homes.
- Buyers purchasing residential properties and wanting to be informed of lead-based paint hazards.
How to prepare this document
- Identify the parties involved: Input the seller's name, buyer's name, and property details.
- Complete the Sellers Disclosure: Indicate whether lead-based paint is known to be present and list any available documentation.
- Ensure Purchaser’s Acknowledgment: Have the buyer initial to confirm receipt of the information and pamphlet.
- Include Agent's Acknowledgment: Ensure the real estate agent signs to verify they informed the seller of their legal obligations.
- Review and sign: Both seller and buyer must date and sign the form to finalize the disclosure.
Does this document require notarization?
This form does not typically require notarization to be legally valid. However, some jurisdictions or document types may still require it. US Legal Forms provides secure online notarization powered by Notarize, available 24/7 for added convenience.
Mistakes to watch out for
- Failing to fill out all required sections, especially the Sellers Disclosure.
- Not providing the EPA pamphlet to the buyer as mandated.
- Overlooking signatures or dates, which can invalidate the form.
Benefits of completing this form online
- Convenient access: Downloadable format allows you to complete the form at your convenience.
- Editable templates: Tailor the form to your specific needs without the risk of missing key information.
- Reliable: Legal forms provided are drafted by licensed attorneys ensuring compliance with current laws.
Form popularity
FAQ
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 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.
If you plan to sell your home, it's legally required that you disclose your knowledge of the existence of lead paint. Lead paint sales and applications were banned in the United States in 1978. However, homes that are older than this may still have lead present.
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.
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.
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.
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.
