A Georgia licensee's client asks whether the agent has any responsibility regarding lead-based paint disclosure forms in a sale of a pre-1978 home, or whether that obligation falls solely on the seller. Which statement best describes the agent's responsibility?
Correct Answer
C) Agents have an affirmative duty under federal law to ensure that the required lead-based paint disclosure form is properly completed in qualifying transactions.
Under the Residential Lead-Based Paint Hazard Reduction Act and EPA/HUD regulations (42 U.S.C. § 4852d; 24 CFR Part 35, Subpart F), real estate agents involved in the sale of pre-1978 residential housing have an affirmative duty to ensure compliance with lead disclosure requirements, including ensuring the proper forms are completed. Failure to do so can result in federal penalties against the agent.
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Related Concepts
Megan's Law requires states to make information about registered sex offenders available to the public. Some states require real estate agents to inform buyers about the availability of sex offender registries.
Mold disclosure involves informing buyers about the presence of mold or conditions that are conducive to mold growth in a property. While no federal mold disclosure law exists, many states require disclosure of known mold issues.
A property condition disclosure is a written statement by the seller detailing the known condition of the property, including defects, repairs, and issues with major systems. Most states require sellers to complete this form.
More Mandated Disclosures Questions
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