Realtor® Legal Tip – Lead Based Paint Disclosure vs. Lead Based Paint Addendum
May 29, 2018
Author: Curtis Bullock
Lead Based Paint Disclosure vs. Lead Based Paint Addendum – which one do you need to use?
Any home built prior to 1978 requires the Seller to provide the Lead Based Paint Disclosure form in every case.
On the other hand, the Lead Based Paint Addendum will only be used if the Buyer initials section 3(d)(i) on the LBP Disclosure Form and requests a 10 day opportunity to conduct a risk assessment or inspection of the presence of LBP on the property. If box 3(d)(i) is not initialed by the Buyer then the LBP Addendum is not needed.
If the Seller fails to provide the LBP Disclosure, it could result in the Buyer cancelling the contract. So be sure to know which forms to use and when.