Property Management
Vermont's Lead Certification Rule requires that contractors who disturb more than 6 square feet of interior painted surfaces in pre-1978 housing must:
AObtain a special commercial contractor's license
BBe certified in lead-safe work practices (EPA RRP Rule)✓ Correct
CTest all paint before beginning work
DNotify the Vermont Real Estate Commission before beginning work
Explanation
Vermont adopted the EPA's Renovation, Repair, and Painting (RRP) Rule requiring contractors who disturb lead-based paint in pre-1978 housing to be certified and follow lead-safe work practices to protect occupants and workers from lead dust exposure.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Math Concepts
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