Philadelphia Lead Based Paint Disclosure

• Category: Pennsylvania Real Estate - Home Sale
• State: Pennsylvania
• County: Philadelphia
• Control #: PA-LEAD1
• Format: Word; Rich Text

Description

This Lead-Based Paint Disclosure statement is required by Federal Law when selling residential housing built prior to 1978. If the home was constructed PRIOR TO 1978, this form is REQUIRED to be completed and signed by the seller and buyer. If the dwelling was constructed in 1978 or later, this form is not required. If in doubt about the timing of construction, use the disclosure form. Whenever the form is used, the seller must also give the buyer the EPA pamphlet discussed below. Philadelphia Pennsylvania Lead Based Paint Disclosure for Sales Transaction is a legal document required in real estate transactions involving residential properties built before 1978, when lead-based paint was widely used. This disclosure aims to inform potential buyers about the possible presence of lead-based paint and related hazards within the property. The Philadelphia Pennsylvania Lead Based Paint Disclosure for Sales Transaction serves as an important tool to protect the health of potential buyers, especially young children who are more susceptible to lead poisoning. It ensures that buyers are aware of any potential risks associated with the presence of lead-based paint and allows them to make informed decisions before purchasing a property. The disclosure form includes specific details about the property, such as its address, the name of the seller, and the date of disclosure. It also requires the seller to answer several questions regarding their knowledge about the presence of lead-based paint or lead hazards in the property. The Philadelphia Pennsylvania Lead Based Paint Disclosure for Sales Transaction may have different variations depending on the specific circumstances of the property being sold. These variations include: 1. Residential Property Built Before 1978: This is a standard disclosure form used for residential properties built before 1978, when lead-based paint was banned for residential use. It is applicable to most properties in Philadelphia and requires the seller to disclose any known presence of lead-based paint. 2. Exemption for Certified Property: This variation applies when the property has been certified as lead-free by a certified lead inspector. In such cases, the seller must provide the necessary documentation to prove that the property is lead-free. 3. Exemption for Sales to Investors: This exemption is for sales transactions involving properties intended for commercial use or investment purposes. It acknowledges that the buyer is aware and assumes the responsibility for lead-based paint assessment and abatement if necessary. 4. Exemption for Foreclosed Properties: This variation is applicable to properties that have gone through foreclosure and are now being sold by banks or mortgage companies. It includes additional language related to the lack of knowledge about the property's condition by the seller or the seller's agent. In summary, the Philadelphia Pennsylvania Lead Based Paint Disclosure for Sales Transaction is a critical document that ensures potential buyers are informed about the presence of lead-based paint in residential properties built before 1978. It provides buyers with the opportunity to assess the associated risks and make informed decisions before purchasing a property. Different variations of this disclosure form exist to address specific circumstances, such as certified lead-free properties, sales to investors, and foreclosed properties.

Philadelphia Pennsylvania Lead Based Paint Disclosure for Sales Transaction is a legal document required in real estate transactions involving residential properties built before 1978, when lead-based paint was widely used. This disclosure aims to inform potential buyers about the possible presence of lead-based paint and related hazards within the property. The Philadelphia Pennsylvania Lead Based Paint Disclosure for Sales Transaction serves as an important tool to protect the health of potential buyers, especially young children who are more susceptible to lead poisoning. It ensures that buyers are aware of any potential risks associated with the presence of lead-based paint and allows them to make informed decisions before purchasing a property. The disclosure form includes specific details about the property, such as its address, the name of the seller, and the date of disclosure. It also requires the seller to answer several questions regarding their knowledge about the presence of lead-based paint or lead hazards in the property. The Philadelphia Pennsylvania Lead Based Paint Disclosure for Sales Transaction may have different variations depending on the specific circumstances of the property being sold. These variations include: 1. Residential Property Built Before 1978: This is a standard disclosure form used for residential properties built before 1978, when lead-based paint was banned for residential use. It is applicable to most properties in Philadelphia and requires the seller to disclose any known presence of lead-based paint. 2. Exemption for Certified Property: This variation applies when the property has been certified as lead-free by a certified lead inspector. In such cases, the seller must provide the necessary documentation to prove that the property is lead-free. 3. Exemption for Sales to Investors: This exemption is for sales transactions involving properties intended for commercial use or investment purposes. It acknowledges that the buyer is aware and assumes the responsibility for lead-based paint assessment and abatement if necessary. 4. Exemption for Foreclosed Properties: This variation is applicable to properties that have gone through foreclosure and are now being sold by banks or mortgage companies. It includes additional language related to the lack of knowledge about the property's condition by the seller or the seller's agent. In summary, the Philadelphia Pennsylvania Lead Based Paint Disclosure for Sales Transaction is a critical document that ensures potential buyers are informed about the presence of lead-based paint in residential properties built before 1978. It provides buyers with the opportunity to assess the associated risks and make informed decisions before purchasing a property. Different variations of this disclosure form exist to address specific circumstances, such as certified lead-free properties, sales to investors, and foreclosed properties.