Glossary and Definitions
Lead Paint Disclosure (Philippines)
A Lead Paint Disclosure is a legal document that acts as a record of lead-based paint risks or possible risks in a specific dwelling. In accordance with the United States Residential Lead-Based Paint Hazard Reduction Act (1992), houses built prior to 1978 must have a Lead Paint Disclosure before sale or lease is permitted. This applies to most types of public, private, and government housing. You may not need a lead-based paint disclosure for housing for the elderly, or disabled persons age 6 or over, or for a dwelling with 0 bedrooms.
In addition to supplying and executing this legal form, landlords have a number of other obligations. Landlords must give tenants the "Protect Your Family From Lead In Your Home" pamphlet, disclose any known information and records of lead-based paint hazards on the property, and include a lead warning statement attached to the lease which is signed and dated by the tenants. Items covered in the above documents include facts about lead paint exposure, where lead-based paint may be found, and how to identify and protect your family from lead hazards.
Sellers have similar obligations to landlords, but must also provide the buyer with a 10-day period to conduct an inspection or assessment for lead-based paint hazards. The buyer may waive this inspection opportunity if he or she wishes.
Once the transaction is completed, the parties should retain a copy of all lead-based paint related documentation for at least three years from the sale date or starting date of the lease.