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A seller must, however, give buyers 10 days to inspect the property for lead. Nothing in the rule requires an owner to remove lead-based paint or lead hazards from the property.
Landlords must give prospective tenants of target housing, including most buildings built before 1978: An EPA-approved information pamphlet on identifying and controlling lead-based paint hazards, Protect Your Family From Lead In Your Home (PDF).
A lead-based paint disclosure form is a form issued to all tenants and potential buyers for residential properties built before 1978 to outline the propertys history of exposure to lead-based paint.
If the paint is in good shape, the lead-based paint is usually not a problem. Deteriorating lead-based paint (peeling, chipping, chalking, cracking, damaged, or damp) is a hazard and needs immediate attention.
The servicer must follow the procedures in Notifying Fannie Mae of Lead-Based Paint Citations in F-1-12, Preparing to Implement a Workout Option to report the action to Fannie Mae.
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Disclose any known information concerning lead-based paint or lead-based paint hazards. The seller or landlord must also disclose information such as the location of the lead-based paint and/or lead-based paint hazards, and the condition of the painted surfaces.
The maximum penalty is a $200,000 fine and one year in prison, as well as the costs of prosecution or probation and a special court assessment.
What must a seller in a PID disclose to a potential buyer? If county or city has made some type of improvement that benefits property owners in the area, there will be an additional tax that owners will have to pay. This will transfer to new Buyers so DISCLOSE!
The federal lead-based paint disclosure regulations apply to residential sale or lease of properties built before 1978.
Disclose any known information concerning lead-based paint or lead-based paint hazards. The seller or landlord must also disclose information such as the location of the lead-based paint and/or lead-based paint hazards, and the condition of the painted surfaces.

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