Transfer of ownership of target housing; RRPM compliance
18 V.S.A. § 1767
in effect1767. Transfer of ownership of target housing; RRPM compliance
(a) Prior to the time a purchase and sale agreement for target housing is executed, the seller shall provide the buyer with materials approved by the Commissioner, including a lead hazard brochure and materials on other lead hazards in housing. The seller shall also provide a disclosure form that shall include any lead-based paint inspection or risk assessment report or letter of exemption, assurance of discontinuance, administrative order, or court order the terms of which are not completed and, if the property is rental target housing, verification that the RRPM was utilized pursuant to this chapter and that a current RRPM compliance statement has been filed with the Department.
(b) At the time of purchase of target housing, sellers and other transferors shall provide the buyer or transferee with any materials delineated in subsection (a) of this section not previously disclosed and a lead-safe renovation practices packet approved by the Commissioner and shall disclose any lead-based paint inspection or risk assessment report or letter of exemption, assurance of discontinuance, administrative order, or court order not disclosed pursuant to subsection (a) of this section the terms of which are not completed.
(c) No sale of rental target housing, building, or unit may occur if the building or unit is currently the subject of an assurance of discontinuance, administrative order, or court order unless the assurance or order is amended in writing to transfer to the buyer or other transferee all remaining obligations under the assurance or order.
(d) Prior to the time of purchase of rental target housing, the real estate agents, sellers, and other transferors of title shall provide the buyer or transferee with information approved by the Commissioner explaining RRPM obligations.
(e) A buyer or other transferee of title of rental target housing shall at the time of sale or transfer of ownership, or both, disclose this transfer to the Department.
(f) A buyer or other transferee of title to rental target housing who has purchased or received a building or unit that is not in full compliance with section 1759 of this chapter shall bring the rental target housing into compliance with section 1759 of this chapter within 60 days after the closing. Within the 60-day period, the buyer or transferee may submit a written request for an extension of time for compliance, which the Commissioner may grant in writing for a stated period of time for good cause only. Failure to comply with this subsection shall result in an administrative penalty in accordance with section 1766 of this chapter.
(g) Noncompliance with this section shall not affect marketability of title.
Added 2007, No. 176 (Adj. Sess.), § 34; amended 2017, No. 149 (Adj. Sess.), § 2, eff. October 21, 2022.
Source: Vermont General Assembly (legislature.vermont.gov)URL: https://legislature.vermont.gov/statutes/section/18/038/01767Fetched: 10/21/2026