What is 'lead-based paint' disclosure requirement for Delaware residential properties?
Why Federal law (Residential Lead-Based Paint Hazard Reduction Act) requires sellers and landlords of pre-1978 housing to disclose known lead-based paint hazards and provide buyers/tenants with the EPA pamphlet Is Correct
Answer B: Federal law (Residential Lead-Based Paint Hazard Reduction Act) requires sellers and landlords of pre-1978 housing to disclose known lead-based paint hazards and provide buyers/tenants with the EPA pamphlet
Exam Tip: Environmental
Environmental questions test knowledge of hazards like asbestos, lead-based paint, radon, and mold. Know the disclosure requirements and when a professional inspection is required. CERCLA liability is strict, joint, and several.
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Key Terms to Know
A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
State-Specific Concepts
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