What is a true statement about the federal lead-based paint law?

The federal lead-based paint law, specifically the Residential Lead-Based Paint Hazard Reduction Act, mandates that sellers and landlords disclose the presence of known lead-based paint hazards to potential buyers or tenants. Among the rights afforded to these parties, buyers do have the option to waive the lead-based paint inspection in situations where they prefer not to conduct one. This means that it is within their rights to decline an inspection, which reflects the law's emphasis on ensuring that buyers are fully informed while also allowing them some autonomy in their decision-making process regarding the property.

On the other hand, the law does not impose a requirement on sellers to remove lead-based paint, nor does it require sellers to inspect the property before the transaction. Additionally, while the listing broker does have a responsibility to ensure that the necessary disclosures are communicated, the law specifically places the disclosure requirement on the seller rather than the broker. This reinforces the significance of buyer awareness while also understanding their option to waive certain inspections.