Robert is purchasing a 1965 co-op apartment in Manhattan. During the 10-day inspection period provided by federal lead paint disclosure laws, Robert discovers peeling paint in the bathroom. The co-op board had previously painted over areas of concern. What rights does Robert have under New York law?
Correct Answer
C) He can withdraw from the purchase without penalty during the 10-day period
Federal lead-based paint disclosure law provides buyers of pre-1978 housing with a 10-day period to conduct lead-based paint inspections or risk assessments. During this period, the buyer can withdraw from the purchase without penalty if they choose to do so for any reason related to lead paint concerns.
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Maria is selling her 1978 single-family home in Albany, New York. The property has original paint throughout. Under New York law, what is Maria's obligation regarding lead-based paint disclosure?
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Under New York's implementation of federal lead-based paint disclosure requirements, all of the following statements are true EXCEPT: