Under federal lead-based paint disclosure rules, how many days does a buyer have to conduct a lead inspection, and can this right be waived?
Correct Answer
B) 10 days; can be waived by the buyer
Under the federal Residential Lead-Based Paint Hazard Reduction Act (42 U.S.C. §4852d), buyers of pre-1978 housing must be given a 10-day opportunity to conduct a lead-based paint inspection or risk assessment. This right may be waived by the buyer in writing.
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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.
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