Lead-based paint disclosure

In recent years, it's been discovered that lead based paint can pose a serious health risk, especially for children. As a result, a federal law was passed in December of 1996 requiring full disclosure of the existence of lead paint on a property. A seller or renter isn't required to clean up the lead paint or account for it in any capacity besides informing a buyer or tenant that it's there. Doing this requires that a seller or renter provide the other party with the Environmental Protection Agency pamphlet entitled 'Protect Your Family From Lead In Your Home'. Additionally, the sales contract must include a clause that buyers have the right to a ten day inspection period and that during this time they may cancel the sale at any time. Buyers, not sellers, are required to pay for lead based paint tests. Tests can be performed inexpensively using x-ray equipment that won't damage or disturb the property.