Minnesota State Real Estate Practice Test

In the context of disclosure, what must sellers provide for homes affected by lead-based paint?

1. Reports from licensed inspectors

2. Documentation of lead paint paint removal

3. Full disclosure of any known hazards

4. A lifetime warranty on lead safety

The correct answer is: Full disclosure of any known hazards

Sellers are required to provide full disclosure of any known hazards associated with lead-based paint in homes built before 1978. The need for such disclosure stems from the understanding that lead exposure can pose serious health risks, particularly to young children and pregnant women. By ensuring that sellers disclose any known presence of lead-based paint and related hazards, potential buyers can make informed decisions regarding their health and safety, as well as that of their families. While reports from licensed inspectors or documentation of lead paint removal might be useful in understanding the condition of the property, the essential requirement is for sellers to disclose any known risks related to lead paint. This obligation ensures transparency in the transaction and is crucial for buyer protection. A lifetime warranty on lead safety is not a standard requirement in the context of real estate transactions involving lead-based paint hazards; it does not address the critical issue of providing buyers with necessary information about known lead issues.