Updated about 10 years ago on . Most recent reply
Two new purchases. Problem with the leases
So I took over two new MFH's that already had tenants in them. Unfortunately, the seller's lease never had any disclosure of possible lead paint. The homes are both pre-1978. I do not think I can give new leases with the disclosures, can I?
The seller did give me a statement that there are no known issues with lead or asbestos. However, the renters never signed anything, and that gets me a bit concerned.
Ideas?
Most Popular Reply
Most states have a window of time where you're not held liable for lead issues after you buy the property. If you get the property inspected for LED within 90 days or whatever New York's statute is you'll be fine. For now, I would definitely get them the lead disclosure. Thats Federal you're supposed to give that to everybody.