A licensee in Georgia is advising a client who owns several residential rental properties built in the early 1970s. Which statement correctly describes the scope of federal lead-based paint disclosure requirements?
Correct Answer
C) Federal lead-based paint disclosure rules apply to most sales and leases of residential housing built before 1978.
The Residential Lead-Based Paint Hazard Reduction Act of 1992 (Title X) and implementing EPA/HUD regulations (24 CFR Part 35; 40 CFR Part 745) require lead-paint disclosure for most sales and leases of residential housing built before 1978. The pre-1978 date reflects when the federal government banned lead-based paint for residential use.
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Related Topics & Key Terms
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Related Concepts
An as-is clause in a real estate contract states that the buyer accepts the property in its current condition without requiring the seller to make any repairs. However, an as-is sale does NOT eliminate the seller's obligation to disclose known defects.
Asbestos disclosure involves informing buyers about the presence of asbestos-containing materials (ACMs) in a property. Asbestos was commonly used in construction materials before 1980 and poses health risks when fibers become airborne.
Violating fair housing laws can lead to significant penalties, including fines, civil liability, and professional discipline.
More Mandated Disclosures Questions
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