A seller subject to the Illinois Residential Real Property Disclosure Act believes that including a lead-based paint disclosure in the contract is sufficient to satisfy all disclosure obligations and that no additional disclosure report is required. Which statement is correct?
Correct Answer
B) The seller must still provide the Illinois statutory disclosure report because the federal lead-based paint disclosure and the Illinois Residential Real Property Disclosure Act impose separate, independent obligations.
The Illinois Residential Real Property Disclosure Act (765 ILCS 77/) and the federal Residential Lead-Based Paint Hazard Reduction Act impose distinct and independent disclosure obligations. Satisfying the federal lead-based paint requirement does not fulfill the seller's duty to provide the Illinois statutory disclosure report. Both disclosures must be provided when applicable — the federal requirement applies to pre-1978 housing, while the Illinois Act applies based on its own statutory criteria regardless of the home's age.
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Related Topics & Key Terms
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Related Concepts
Death on property disclosure addresses whether sellers must inform buyers about deaths that occurred on the property, including natural deaths, suicides, and murders. Requirements vary significantly by state.
Environmental hazards disclosure involves informing buyers about environmental contamination or hazards affecting or potentially affecting a property, including underground storage tanks, contaminated soil, hazardous waste, and proximity to Superfund sites.
Flood zone disclosure requires informing buyers whether a property is located in a designated flood zone as mapped by FEMA. Properties in high-risk flood zones may require mandatory flood insurance.
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