Lead warning statement
A Lead Warning Statement is a mandatory notice included in contracts, particularly in real estate and rental agreements, stipulating that properties built before 1978 may contain lead-based paint, which poses health risks. This clause usually alerts tenants or buyers about the potential for lead exposure and outlines their rights to information and necessary precautions.
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Sample Lead warning statement clauses
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Triller Corp. (ILLR)Lead Warning Statement
Housing built before 1978 may contain lead-based paint. Lead from paint, paint chips and dust can pose health hazards if not managed properly. Lead exposure is especially harmful to young children and pregnant women. Before renting pre-1978 housing, landlords must disclose the presence of known lead-based paint and/or lead-based paint hazards in the dwelling. Tenants must also receive a federally approved pamphlet on poisoning prevention.
Source
KNOW LABS, INC. (KNW)Lead Warning Statement
HOUSING BUILT BEFORE 1978 MAY CONTAIN LEAD-BASED PAINT. LEAD FROM PAINT, PAINT CHIPS, AND DUST CAN POSE HEALTH HAZARDS IF NOT MANAGED PROPERLY. LEAD EXPOSURE IS ESPECIALLY HARMFUL TO YOUNG CHILDREN AND PREGNANT WOMEN. BEFORE RENTING PRE-1978 HOUSING, LESSORS MUST DISCLOSE THE PRESENCE OF KNOWN LEAD-BASED PAINT AND/OR LEAD-BASED PAINT HAZARDS IN THE DWELLING. LESSEES MUST ALSO RECEIVE A FEDERALLY APPROVED PAMPHLET ON LEAD POISONING PREVENTION.
Source
Astra Space, Inc. (ASTR)28.15. Lead Warning Statement. Tenant acknowledges that Landlord has advised Tenant that buildings built before 1978 may contain lead-based paints (“LBP”). Lead from paint, paint chips and dust can pose health hazards if not managed properly. Subject to Article 10 of this Lease, Tenant may at its sole cost and expense, have a state certified LBP Inspector complete a LBP inspection and abatement and provide an abatement certification to Landlord. Landlord has no specific knowledge of the presence of lead-based paint in the Premises.
(4) Purchaser hereby certifies as follows: I have read and understood the above lead warning statement and received all information noted above, including the lead hazard information web-pamphlet described above.
By its execution of the Agreement to which this Exhibit F is attached, Purchaser acknowledges that (a) it has read and understands the foregoing Lead Warning Statement, (b) it has reviewed, or during the Inspection Period will review, any documents concerning lead-based paint or lead-based paint hazards located on the Property or otherwise provided for review by Seller, and (c) it has independently obtained a lead hazard information pamphlet in the form prescribed by the Environmental Protection Agency under Section 406 of the Toxic Substances Control Act. Purchaser shall conduct such studies and tests for lead-based paint during the Inspection Period as Purchaser deems appropriate.
Source
Gyrodyne, LLC (GYRO)Lead Warning Statement
Every purchaser of any interest in residential real property on which a residential dwelling was built prior to 1978 is notified that such property may present exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning. Lead poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems, and impaired memory. Lead poisoning also poses a particular risk to pregnant women. The seller of any interest in residential real property is required to provide the buyer with any information on lead-based paint hazards from risk assessments or inspections in the seller’s possession and notify the buyer of any known lead-based paint hazards. A risk assessment or inspection for possible lead-based paint hazards is recommended prior to purchase.
What is a Lead Warning Statement?
A Lead Warning Statement is a mandatory disclosure providing important information about the presence and risks of lead-based paint and lead-based paint hazards in certain properties. This statement is typically included in real estate transactions, especially those involving properties built before 1978, as lead paint was commonly used in residential construction until it was banned in that year in the United States.
When should I use a Lead Warning Statement?
A Lead Warning Statement should be used in real estate transactions involving the sale or lease of residential properties built before 1978. The Environmental Protection Agency (EPA) and the Department of Housing and Urban Development (HUD) mandate the inclusion of this statement in order to educate and inform buyers and tenants about potential lead-based paint hazards.
How do I write a Lead Warning Statement?
When drafting a Lead Warning Statement, it is essential to comply with federal regulations to ensure the language is clear and adequately informs the recipient of the risks associated with lead-based paint. A typical Lead Warning Statement might look like this:
Warning Statement:
“Every purchaser of any interest in residential real property on which a residential dwelling was built prior to 1978 is notified that such property may present exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning. Lead poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems, and impaired memory. Lead poisoning also poses a particular risk to pregnant women. The seller of any interest in residential real property is required to provide the buyer with any information on lead-based paint hazards from risk assessments or inspections in the seller’s possession and notify the buyer of any known lead-based paint hazards. A risk assessment or inspection for possible lead-based paint hazards is recommended prior to purchase.”
Which contracts typically contain a Lead Warning Statement?
Contracts that typically contain a Lead Warning Statement include:
- Residential Property Sales Contracts: Any agreement for the sale of residential property built before 1978 must include a Lead Warning Statement.
- Residential Lease Agreements: Any lease agreement for housing constructed prior to 1978 should contain a Lead Warning Statement to inform tenants of potential lead hazards.
- Disclosure Forms: Separate lead-based paint disclosure forms provided to buyers and renters should include the Lead Warning Statement as mandated by federal law.
These contracts ensure that potential buyers and tenants are properly informed about lead-based paint hazards and can take appropriate steps to protect themselves and their families.
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