Section 1018 of the Residential Lead
Based Paint Hazard Reduction Act of 1992 (42 U.S.C. 4852d) requires
that sellers and lessors of most residential housing built before
1978 disclose known information on the presence of lead based paint
and lead based paint hazards, and provide an EPA approved pamphlet
to purchasers and renters before selling or leasing the housing.
Sellers of pre-1978 housing are also required to provide
prospective purchasers with ten days to conduct an inspection or
risk assessment for lead based paint hazards before obligating
purchasers under contracts to purchase the property. The rule does
not apply to rental housing that has been found to be free of
lead-based paint, zero-bedroom dwellings, housing for the elderly,
housing for the handicapped, or short term leases. The affected
parties and the information collection-related requirements related
to each are described below: 1. Sellers of pre-1978 housing must
attach certain notification and disclosure language to their
sales/leasing contracts. The attachment lists the information
disclosed and a statement of compliance by the seller, purchaser
and any agents involved in the transaction. 2. Lessors of pre-1978
housing must attach notification and disclosure language to their
leasing contracts. The attachment, which lists the information
disclosed and a statement of compliance with all elements of the
rule, must be signed by the lessor, lessee and any agents acting on
their behalf. Agents and lessors must retain the information for
three years from the completion of the transaction. 3. Agents
acting on behalf of sellers or lessors are specifically required by
Section 1018 to comply with the disclosure regulations described
above.
US Code:
42
USC 4852d Name of Law: Residential Lead Based Paint Hazard
Reduction Act of 1992
There is a decrease of 470,154
hours in the total estimated respondent burden compared with that
identified in the ICR currently approved by OMB. This decrease
reflects a gradual reduction in the annual number of real estate
sales involving target housing subject to the rule's requirements
and an overall decrease in real estate sales. There has also been a
notable decrease in the overall growth of the real estate agent
profession which reduces the number of new entrants who have start
up burden and cost related to this ICR activity. While the number
of property rentals increased over the past year, fewer parties are
involved in those transactions so the increases in the rental
market were not enough to offset the decrease in the sales market
in terms of burden and cost related to this ICR.
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.
Tenant Acknowledgements of Disclosure
1710.07_ss_Attachment-7.pdf
1710.07_ss_Attachment-3.docx
Rule Familiarization - New Real Estate Agents