42 U.S.C. § 4852d : US Code - Section 4852D: Disclosure of information concerning lead upon transfer of residential property

    (a) Lead disclosure in purchase and sale or lease of target housing
      (1) Lead-based paint hazards
        Not later than 2 years after October 28, 1992, the Secretary
      and the Administrator of the Environmental Protection Agency
      shall promulgate regulations under this section for the
      disclosure of lead-based paint hazards in target housing which is
      offered for sale or lease. The regulations shall require that,
      before the purchaser or lessee is obligated under any contract to
      purchase or lease the housing, the seller or lessor shall - 
          (A) provide the purchaser or lessee with a lead hazard
        information pamphlet, as prescribed by the Administrator of the
        Environmental Protection Agency under section 406 of the Toxic
        Substances Control Act [15 U.S.C. 2686];
          (B) disclose to the purchaser or lessee the presence of any
        known lead-based paint, or any known lead-based paint hazards,
        in such housing and provide to the purchaser or lessee any lead
        hazard evaluation report available to the seller or lessor; and
          (C) permit the purchaser a 10-day period (unless the parties
        mutually agree upon a different period of time) to conduct a
        risk assessment or inspection for the presence of lead-based
        paint hazards.
      (2) Contract for purchase and sale
        Regulations promulgated under this section shall provide that
      every contract for the purchase and sale of any interest in
      target housing shall contain a Lead Warning Statement and a
      statement signed by the purchaser that the purchaser has - 
          (A) read the Lead Warning Statement and understands its
        contents;
          (B) received a lead hazard information pamphlet; and
          (C) had a 10-day opportunity (unless the parties mutually
        agreed upon a different period of time) before becoming
        obligated under the contract to purchase the housing to conduct
        a risk assessment or inspection for the presence of lead-based
        paint hazards.
      (3) Contents of lead warning statement
        The Lead Warning Statement shall contain the following text
      printed in large type on a separate sheet of paper attached to
      the contract:

      "Every purchaser of any interest in residential real property on
    which a residential dwelling was built prior to 1978 is notified
    that such property may present exposure to lead from lead-based
    paint that may place young children at risk of developing lead
    poisoning. Lead poisoning in young children may produce permanent
    neurological damage, including learning disabilities, reduced
    intelligence quotient, behavioral problems, and impaired memory.
    Lead poisoning also poses a particular risk to pregnant women. The
    seller of any interest in residential real property is required to
    provide the buyer with any information on lead-based paint hazards
    from risk assessments or inspections in the seller's possession and
    notify the buyer of any known lead-based paint hazards. A risk
    assessment or inspection for possible lead-based paint hazards is
    recommended prior to purchase.".
      (4) Compliance assurance
        Whenever a seller or lessor has entered into a contract with an
      agent for the purpose of selling or leasing a unit of target
      housing, the regulations promulgated under this section shall
      require the agent, on behalf of the seller or lessor, to ensure
      compliance with the requirements of this section.
      (5) Promulgation
        A suit may be brought against the Secretary of Housing and
      Urban Development and the Administrator of the Environmental
      Protection Agency under section 20 of the Toxic Substances
      Control Act [15 U.S.C. 2619] to compel promulgation of the
      regulations required under this section and the Federal district
      court shall have jurisdiction to order such promulgation.
    (b) Penalties for violations
      (1) Monetary penalty
        Any person who knowingly violates any provision of this section
      shall be subject to civil money penalties in accordance with the
      provisions of section 3545 of this title.
      (2) Action by Secretary
        The Secretary is authorized to take such lawful action as may
      be necessary to enjoin any violation of this section.
      (3) Civil liability
        Any person who knowingly violates the provisions of this
      section shall be jointly and severally liable to the purchaser or
      lessee in an amount equal to 3 times the amount of damages
      incurred by such individual.
      (4) Costs
        In any civil action brought for damages pursuant to paragraph
      (3), the appropriate court may award court costs to the party
      commencing such action, together with reasonable attorney fees
      and any expert witness fees, if that party prevails.
      (5) Prohibited act
        It shall be a prohibited act under section 409 of the Toxic
      Substances Control Act [15 U.S.C. 2689] for any person to fail or
      refuse to comply with a provision of this section or with any
      rule or order issued under this section. For purposes of
      enforcing this section under the Toxic Substances Control Act [15
      U.S.C. 2601 et seq.], the penalty for each violation applicable
      under section 16 of that Act [15 U.S.C. 2615] shall not be more
      than $10,000.
    (c) Validity of contracts and liens
      Nothing in this section shall affect the validity or
    enforceability of any sale or contract for the purchase and sale or
    lease of any interest in residential real property or any loan,
    loan agreement, mortgage, or lien made or arising in connection
    with a mortgage loan, nor shall anything in this section create a
    defect in title.
    (d) Effective date
      The regulations under this section shall take effect 3 years
    after October 28, 1992.