Summary of Lead Disclosure Rules and Requirements
This document was extracted from and EPA document titled "Section 1018 - Disclosure Rule Enforcement Response Policy". The entire document is available on the web at http://es.epa.gov/oeca/ore/tped/lead.pdf
Chapter 2: Summary of Rule and Requirement
The purpose of the Disclosure Rule is to ensure that individuals and families receive the information necessary to protect themselves and their families from lead-based paint and/or lead-based paint hazards. This information will help families and individuals make informed housing decisions to reduce their risk of exposure to lead hazards.
The Disclosure Rule requires that sellers, lessors and agents must comply with certain requirements when selling or leasing target housing. For purposes of the Disclosure Rule, "Seller" is defined as any entity that transfers legal title to target housing, in whole or in part. The Disclosure Rule defines "Lessor" as any entity that offers target housing for lease, rent, or sublease. "Purchaser" is defined as an entity that enters into an agreement to purchase an interest in target housing under the Disclosure Rule. "Lessee" is defined as any entity that enters into an agreement to lease, rent, or sublease target housing. Finally, the Disclosure Rule defines " Agent" as any party who enters into a contract with a seller or lessor, including any person who enters into a contract with a representative of the Lessor or Seller, to sell or lease target housing.
The Disclosure Rule requires that before a Purchaser or Lessee is obligated under any contract to purchase or lease target housing, certain requirements must be met. These requirements include the following:
Final Enforcement Response Policy:
The Disclosure Rule December 1999
Browse Real Estate Forms & Mortgage Forms Alphabetically