Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago,

User Stats

55
Posts
8
Votes
Kenny M.
  • Yonkers, NY
8
Votes |
55
Posts

Lead paint issue in multifamily house

Kenny M.
  • Yonkers, NY
Posted

Have a bit of a problem here.  I just purchased a multi-family building a few months ago.  There was a previous tenant with a child who's 8 I believe.  They've been in the building for less then a year, and I've owned the building for the last four months.  The child has higher than normal lead levels.  The dept. of health has sent us a notice to remediate the lead paint issue within the next two months.  I already have requested quotes and will be having this taken care of and remedied within two weeks.  When I purchased the home, the previous owner signed off with no knowledge of lead paint being detected.  The renter was given the EPA lead docs and signed off on the notice that since the building was built prior to 1978, there may be lead paint in the building.  

I am concerned with the legal liability from owning the house for just a few months. I am concerned that the tenant may sew.  The house is only worth 52k, so I have no mortgage.  Now, I have no knowledge that they will.  How much liability could I have for four months of ownership?  Plus, I have a signed document from the previous owner that there is no knowledge of lead paint, as well as the tenant signing off on the lead paint notice disclosure.  We just received the notice from the city, and we're already on top of it.  Not sure what else I could had done to protect myself legally.  

Just concerned here.

Loading replies...