Under New York State law, residential sellers disclose to purchasers that a residential dwelling constructed prior to 1978 may contain lead-based paint which can be toxic to young children. In practice, the brokers may have this disclosure form signed simultaneously with the accepted offer. If not, the attorneys will have the parties sign the form simultaneously with the Contract of Sale. In some cases, the lender may ask to see a copy of the Lead-Based Paint Disclosure Form to ensure that the parties acted in accordance with State law. The same is true of the carbon dioxide/monoxide affidavit, which is the subject of another blog in this series.
*Thank you for taking the time to read this article. This article is part of our “From Contract to Closing; Demystifying NY Residential Real Estate” Series. Other aspects of residential real estate transactions in New York are discussed in other Parts of this series.
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