Environmental Disclosure Statement

An Environmental Disclosure Statement is a legal document that provides information about known environmental conditions or hazards associated with a property. Key aspects include:

1. Required in many real estate transactions

2. Discloses known environmental issues such as:

   – Presence of hazardous materials

   – Contamination from previous uses

   – Nearby environmental risks

3. Often includes information on:

   – Asbestos

   – Lead-based paint

   – Radon

   – Underground storage tanks

4. Protects sellers from future liability

5. Informs buyers of potential risks or cleanup costs

This statement helps ensure transparency in property transactions and allows buyers to make informed decisions. It’s typically prepared by the seller or their representative based on available information. While not a guarantee of a property’s environmental condition, it provides a starting point for further investigation if needed. Failure to disclose known environmental issues can lead to legal consequences for the seller. Buyers should review this document carefully and consider professional environmental assessments for high-risk properties.