Federal Disclosure Requirements
The Residential Lead-Based Paint Hazard Reduction Act of 1992 (Title X) requires sellers of homes built before 1978 to disclose known lead-based paint and hazards, provide the buyer with any available lead inspection reports, give the buyer the EPA pamphlet 'Protect Your Family From Lead in Your Home,' and include specific lead paint disclosure language in the sales contract.
These are federal requirements that apply regardless of state law. Failure to comply can result in penalties of up to $19,507 per violation, plus liability for any damages the buyer suffers from undisclosed lead hazards. The disclosure obligation covers what you know — you are not required to test for lead.
What to Disclose
Disclose any known lead-based paint or lead hazards in the home. If you had a lead inspection or risk assessment performed, provide the report. If you had lead paint abated or encapsulated, provide documentation. If you have no knowledge of lead paint, state that — but do not misrepresent your knowledge.
Common areas where lead paint is found in Hudson Valley homes include window sills and frames, door frames, stairway railings, baseboards, exterior siding, and porches. Homes built before 1960 are most likely to contain lead paint. Homes built between 1960 and 1978 may contain lead paint in some areas.
Impact on Your Sale
For most buyers of older homes, lead paint disclosure is expected and does not significantly affect the sale. Buyers have the option to conduct a lead inspection (at their expense) within 10 days of receiving the disclosure, though many waive this right. If lead paint is found, buyers may negotiate for credits or abatement.
The key is honesty and documentation. A seller who discloses known lead paint and provides inspection reports inspires confidence. A seller who conceals known hazards faces legal liability that far exceeds any short-term benefit from non-disclosure.