PSI Oklahoma Real Estate Practice Test

What document is Albert required to provide to Ben due to the house being built prior to 1978?

1. Home inspection report

2. Signed lead-based paint disclosure form

3. Property appraisal

4. Termite inspection certificate

The correct answer is: Signed lead-based paint disclosure form

Albert is required to provide a signed lead-based paint disclosure form to Ben because the house was built prior to 1978. This is crucial because homes constructed before this year are likely to contain lead-based paint, which poses health hazards, particularly to children. Under federal law, specifically the Residential Lead-Based Paint Hazard Reduction Act, sellers are obligated to disclose any known lead-based paint and lead-based paint hazards in the property. The signed disclosure form ensures that Ben is aware of the potential risks associated with lead-based paint and confirms that he has received the information necessary to make informed decisions regarding the property. This process includes providing any available records or reports about lead-based paint, and the signed form serves as documentation that the seller has complied with the law. In contrast, other options such as a home inspection report, property appraisal, or termite inspection certificate do not specifically address the health risks associated with lead paint and are not legally mandated disclosures for homes built before 1978.