Real Estate Lead Based Paint Disclosure for Rental Transaction
Real Estate Lead Based Paint Disclosure Agreement
This Real Estate Lead Based Paint Disclosure (the "Disclosure") is made and entered into on [Date], by and between:
[Your Company Name]
[Your Company Address]
[Your Company Email]
and
[Your Client Name]
[Your Client Email]
Background:
[Your Company Name] is a reputable real estate agency specializing in property management, rental transactions, and sales. We prioritize compliance with federal regulations and aim to ensure transparency in all our transactions.
1. Purpose:
This Disclosure aims to fulfill the requirements set forth by the Residential Lead-Based Paint Hazard Reduction Act of 1992, 42 U.S.C. §§ 4851-4856, and its accompanying regulations at 24 C.F.R. Part 35. It serves to inform the tenant about potential lead-based paint hazards in the rental property.
2. Disclosure:
[Your Company Name] hereby provides [Your Client Name] with essential information regarding the presence of known lead-based paint and/or lead-based paint hazards at the specified location: [Address of the Rental Property]. We have conducted due diligence to identify and disclose any such hazards accurately.
3. Acknowledgment:
By signing this Disclosure, [Your Client Name] confirms receipt of the information contained herein and acknowledges their responsibilities under the Residential Lead-Based Paint Hazard Reduction Act. This acknowledgment indicates their understanding of the potential risks associated with lead-based paint in the rental property.
4. Tenant's Acknowledgment:
[Your Client Name] further acknowledges that they have received the necessary information regarding lead-based paint hazards in the rental property and understand their responsibilities as a tenant. This acknowledgment is essential to ensure compliance with legal requirements and promote tenant safety and awareness.
5. Indemnification:
In agreeing to this Disclosure, [Your Client Name] agrees to indemnify and hold harmless [Your Company Name] from any claims, damages, losses, liabilities, costs, and expenses arising from the presence of lead-based paint or lead-based paint hazards in the rental property. This indemnification clause provides protection for [Your Company Name] against any potential legal issues related to lead-based paint hazards.
6. Governing Law:
This Disclosure shall be governed by and construed in accordance with the laws of the [State], ensuring consistency with local legal frameworks and regulations governing real estate transactions. Compliance with applicable laws is essential to maintain the validity and enforceability of this Disclosure.
7. Entire Agreement:
This Disclosure constitutes the entire agreement between the parties regarding the subject matter herein and supersedes all prior and contemporaneous agreements and understandings. Any modifications or amendments to this Disclosure must be made in writing and signed by both parties to be considered valid.
8. Execution:
This Disclosure may be executed in counterparts, providing flexibility in the signing process. Each counterpart shall be deemed an original, but all counterparts together shall constitute one and the same instrument, ensuring clarity and coherence in the agreement.
IN WITNESS WHEREOF, the parties hereto have executed this Disclosure as of the date first above written.
[Your Company Name]:
[Your Name], [Your Title]
Date:
[Your Client Name]:
Date:
