156. LEAD PAINT LAWS REVISED

Delivery of Lead Based Paint Disclosures is allowed after a purchase contract is accepted, provided the buyer is given a three day right of cancellation., the same as the Transfer Disclosure Statements right to cancel. The new CAR purchase agreement does provide for this disclosure after acceptance of the offer. CAR also gives the buyer a ten day lead inspection. If the Lead Based Disclosure is made prior to acceptance there is no right of cancellation which is the same as Transfer Disclosure Statement made prior to acceptance. This new ruling does not affect leases. Lead Based Paint Disclosure must be given before any lease is accepted on pre-1978 properties.

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