National Real Estate Exam (PSI)Property DisclosuresEasy
A seller is preparing to sell a house built in 1962. Under federal law, which disclosure is the seller required to provide to the buyer before the contract is signed?
- ANo federal disclosure is required because the home is not new construction
- BA lead-based paint disclosure and pamphlet, plus a 10-day opportunity to test
- CA radon gas test report performed within the last 30 days
- DA certified asbestos inspection report
Show answer & explanationAnswer & explanation
Correct answer: B. A lead-based paint disclosure and pamphlet, plus a 10-day opportunity to test
Federal law (Title X) requires sellers of housing built before 1978 to disclose known lead-based paint hazards, provide an EPA pamphlet, and give buyers a 10-day period to test for lead paint before becoming obligated under the contract.
Why the other options are wrong
- A. Federal lead-paint disclosure applies regardless of construction status, only tied to the 1978 cutoff.
- C. Radon testing is not a federal mandate tied to sale date.
- D. Asbestos inspections are not federally mandated for residential resale.
Lead-Based Paint Disclosure
Federal law requiring sellers/landlords of pre-1978 housing to disclose known lead hazards and give buyers a 10-day inspection opportunity.
- Applies only to housing built before 1978
- Includes EPA pamphlet 'Protect Your Family from Lead in Your Home'
- Buyer has 10 days to test unless waived in writing
Memory trick: '78 or older, disclose the paint story.