Question

If a home was built before 1978, the seller's failure to provide a lead based paint disclosure _______________?

1) Would make the contract void
2) Makes the contract voidable
3) Makes the contract unenforceable
4) None of the above

Answer 1

The failure to provide a lead-based paint disclosure for a home built before 1978 makes the contract voidable, allowing the buyer to opt to terminate the contract.

Step-by-step explanation:

If a home was built before 1978, the seller's failure to provide a lead based paint disclosure makes the contract voidable. This means that the buyer has the option to terminate the contract upon learning of this failure to disclose, which is a requirement under the Residential Lead-Based Paint Hazard Reduction Act of 1992. The presence of lead-based paint in older homes is a significant health risk, especially to young children, and thus the law mandates sellers to provide buyers with a disclosure about the potential risk. If the disclosure is not provided, the buyer may seek redress through legal channels.