Margaret is selling her Knoxville home, which was built in 1974. During the listing appointment, her affiliate broker, David, learns that the home has never been tested for lead-based paint. The buyer, a young couple with two toddlers, is under contract to purchase the property. Which statement correctly describes the disclosure obligations that apply to this transaction under both federal and Tennessee law?

Question

Mandated DisclosuresEnvironmental_hazardsMEDIUM

Margaret is selling her Knoxville home, which was built in 1974. During the listing appointment, her affiliate broker, David, learns that the home has never been tested for lead-based paint. The buyer, a young couple with two toddlers, is under contract to purchase the property. Which statement correctly describes the disclosure obligations that apply to this transaction under both federal and Tennessee law?

Answer Options

A

David must ensure Margaret completes the Tennessee Property Condition Disclosure form disclosing any known lead-based paint, and the buyers must receive the EPA-approved lead hazard pamphlet and a ten-day inspection opportunity under federal law.

B

David must ensure Margaret completes the Tennessee Property Condition Disclosure form disclosing any known lead-based paint, and the buyers must receive the EPA-approved lead hazard pamphlet under federal law, but no inspection period is required.

C

Because the home was built before 1978, only the federal Lead-Based Paint Disclosure applies; Tennessee's Property Condition Disclosure form is not required for pre-1978 homes.

D

Lead-based paint disclosure is only required if a prior test confirmed lead is present; since the home was never tested, no lead-based paint disclosure obligation exists.