Oklahoma City Oklahoma Lead Based Paint Disclosure for Sales Transaction
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How to fill out Oklahoma Lead Based Paint Disclosure For Sales Transaction?
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FAQ
The Residential Real Property Disclosure Act requires sellers in Illinois to present buyers with a disclosure listing the physical condition of the property, including the presence of lead.
Just like in a residential building, owners of commercial properties must also disclose the presence of lead so long as they are selling the property.
The Director of the Office of Lead Hazard Control and Healthy Homes, or his or her designee, may initiate a civil money penalty action against any person who knowingly violates 42 U.S.C. 4852d. (b) Amount of penalty. The maximum penalty is $19,507 for each violation.
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 Rules of Lead Disclosure in Illinois Federal laws require property owners and their real estate agent to disclose the presence of lead in both residential and commercial real estate transactions.
Property Managers and Landlords Landlords must give prospective tenants of target housing, including most buildings built before 1978: An EPA-approved information pamphlet on identifying and controlling lead-based paint hazards, Protect Your Family From Lead In Your Home (PDF).
Painting over lead paint is known as ?encapsulation,? and it's frequently used as an effective remediation technique. In fact, it's less expensive and safer than lead paint removal, since it doesn't disturb the existing paint and doesn't tend to release lead dust or toxic particles into the air.
According to the law, home buyers and renters will receive known information on lead-based paint and lead-based paint hazards during sales and rentals of housing built before 1978.
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.
Section 1018 of the Residential Lead-Based Paint Hazard Reduction Act of 1992 directs EPA and HUD to jointly issue regulations requiring disclosure of known lead-based paint and/or lead- based paint hazards by persons selling or leasing housing constructed before the phaseout of residential lead-based paint use in 1978
