House Bill 5361 Summary

• Requires inspection of residential properties built before 1978 for lead-based paint before any transfer (sale, exchange, lease with option to purchase, or ground lease).

• Inspection must be conducted by a certified inspector under Part 54A of the Michigan Public Health Code.

• Transferor must deliver a written inspection report to the purchaser before executing a purchase agreement, land contract, or lease.

• Purchaser may terminate the purchase agreement, land contract, or lease within 72 hours (if delivered in person) or 120 hours (if delivered by other means) after receiving the report, with termination rights expiring upon transfer by deed.

• Transferor must indicate compliance with the act on the purchase agreement, land contract, lease, or on an attached addendum or separate document.