Contracts
What is a 'seller's disclosure of lead-based paint' and when is it required in Illinois?
ARequired for all Illinois residential sales; part of the standard disclosure form
BRequired for residential properties built before 1978; must be on a federal disclosure form and provided before a contract is signed✓ Correct
CRequired only for properties in areas with documented lead contamination
DRequired only when the buyer has children under 6 years old
Explanation
The federal Residential Lead-Based Paint Hazard Reduction Act of 1992 requires sellers of target housing (pre-1978 residential buildings) to provide buyers with a lead disclosure form, any known lead hazard records, and the EPA pamphlet 'Protect Your Family from Lead in Your Home.' Buyers must be given 10 days to conduct lead inspection.
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