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Answer: Approximately three-quarters of the nations housing built before 1978 contains some lead-based paint. This paint, if properly managed and maintained, poses little risk. If allowed to deteriorate, lead from paint can threaten the health of occupants, especially children under six years old.
Its just required to disclose potential lead paint. As long as it isnt peeling, it shouldnt be an issue.
Though lead-based paint for use in homes was banned in the U.S. in 1978, it is still present in millions of homes. Lead-based paint is usually not a hazard if it is in good condition. However, deteriorating (peeling, chipping, chalking, ing, or damaged) lead-based paint is a hazard and needs prompt attention.
The Lead-based Paint Disclosure Rule requires sellers, landlords, real estate agents and property managers to provide specific information about known lead-based paint and lead-based paint hazards before prospective renters and homebuyers sign a lease or contract.
Home sellers who fail to comply with federal disclosure responsibilities may be sued by the buyer for damages suffered. These can be quite hefty, especially if young children have developed a lead-related health problem (over $10,000, depending on the violation). Other penalties can also be imposed.
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