Illinois Real Estate Broker Exam — All Questions
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1 questions
Property Disclosures
Under federal law, a seller of a home built before 1978 must provide the buyer with a disclosure regarding:
- a.Radon gas
- b.Asbestos insulation
- c.Lead-based paint✓
- d.Underground storage tanks
The federal Residential Lead-Based Paint Hazard Reduction Act requires sellers of pre-1978 housing to disclose known lead-based paint hazards and provide an EPA pamphlet. The rule targets pre-1978 homes because lead paint was banned in 1978.