Minnesota State Real Estate Practice Test

What must be disclosed regarding lead-based paint in homes built before 1978?

1. Only suspected lead-based paint locations

2. Any known lead paint hazards

3. Lead paint remediation steps taken

4. No disclosure is required

The correct answer is: Any known lead paint hazards

In homes built before 1978, federal law mandates that sellers must disclose any known lead-based paint hazards to prospective buyers. This requirement stems from the hazards associated with lead exposure, especially in residential settings where children may be at risk. Sellers are obligated to provide buyers with a lead hazard information pamphlet and a disclosure form detailing any known lead-based paint or lead-based paint hazards present in the property. The focus on known hazards is crucial, as the law aims to ensure that buyers are fully informed about potential health risks associated with lead exposure. This gives buyers the opportunity to make educated decisions regarding their health and safety before committing to a property purchase. Other options might imply limited or no disclosure, which does not comply with federal lead-based paint laws. For example, only disclosing suspected locations or remediation steps taken would not fulfill the legal obligation to inform buyers of known hazards. Additionally, stating that no disclosure is required directly contradicts these regulations. Therefore, the requirement to disclose any known lead paint hazards is designed to protect public health and ensure transparency in real estate transactions involving older homes.