Mandatory Asbestos Disclosure for Sale and Lease of Older Homes.
This law establishes new safety rules for individuals buying or renting homes built before 2019. Sellers and lessors must now mandatorily disclose all known asbestos hazards and provide any available inspection reports. Citizens also gain a 10-day period to conduct their own risk assessment before finalizing the contract, increasing their health and financial protection.
Key points
Increased Health Safety: Mandatory disclosure of known asbestos hazards in homes (built before 2019) prior to sale or lease.
Right to Inspection: Buyers and tenants are granted a 10-day period to conduct their own risk assessment or inspection for asbestos presence.
Severe Penalties: Sellers or lessors who knowingly conceal asbestos information face fines and civil liability up to three times the damages incurred.
Status:
Expired
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