Maine Real Estate License Practice Exam

A selling licensee must disclose which type of information to a buyer customer?

1. Information on the type of wiring in the dwelling

2. Information about the familial and racial makeup of the neighborhood

3. Information about area schools

4. Information about Lead Based Paint in a dwelling built in 1977

The correct answer is: Information about Lead Based Paint in a dwelling built in 1977

The requirement for a selling licensee to disclose information about Lead-Based Paint in a dwelling built in 1977 is based on federal law, specifically the Residential Lead-Based Paint Hazard Reduction Act of 1992. This legislation mandates that sellers and landlords provide potential buyers and tenants with information regarding the presence of lead-based paint and associated hazards in residential properties built before 1978. Since homes built in 1977 fall within this timeframe, the licensee must inform buyers about any known lead hazards as part of their duty to protect health and ensure informed decision-making. Disclosing lead-based paint information is critical because lead exposure can lead to serious health risks, particularly for young children and pregnant women. By providing this information, the licensee helps buyers understand potential risks and take appropriate actions, such as testing for lead or remediating it if necessary. Other options may involve important information for the buyer but do not carry the same legal disclosure obligation under federal law. For instance, while information about the type of wiring, familial and racial makeup of the neighborhood, or details about area schools can be relevant to a buyer's decision, they do not have the same stringent requirements for disclosure. Thus, the obligation to disclose information regarding lead-based paint is unique and critical