Asbestos and Lead based Paint

[Rizwan Khan]

Greetings.

I have question for the forum if someone can provide guidance. I recently purchased (not even closed yet) a duplex. At the time of the inspection, one side was vacant and we discovered there may be asbestos tape or wrap used on the HVAC ductwork. Since it is an old home and some of the plaster is loose, it too needs to be knocked down and replaced with drywall.The paint on these walls may have lead based paint and dropping plaster will create dust. Icing on the cake, there is also evidence of mold in the basement and needs remediation. The situation on the occupied side is exactly same. I intend to correct these findings but in the meantime I have following questions:

1. I am assuming I would have to notify the occupied side immediately that possible asbestos and lead based paint exist on their side and on the non-occupied side. If the tenants wants to stay since they love the location and there are no young children what do I do? Can they sign a waiver to stay or do they have to move?
2. What do I do with the tenant while the repairs are being done on either side, dust and all?

Appreciate the help!

Riz

[Andrew Michael]

Its hard to believe that the current landlord was unaware of these issues.  I would make the current landlord address the issues above or compensate you accordingly based on estimates you receive.  If it were me, I might also consider walking away from this deal.  If the landlord is so negligent that he was unaware of mold, lead paint, and asbestos, what else has he overlooked or hidden from you.  Always think worst case scenario.  Keep us posted on what your attorney says!  Good Luck.