Vermont Statutes Title 18 Sec. 1762
Terms Used In Vermont Statutes Title 18 Sec. 1762
- Child care facility: means a child care facility or family child care home as defined in 33 V. See
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Executor: A male person named in a will to carry out the decedent
- Facility: means any institutional, commercial, public, private, or industrial structure, installation, or building or private residence and its grounds. See
- Fiduciary: A trustee, executor, or administrator.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Owner: means any person who, alone or jointly or severally with others:
- Person: means any individual, company, corporation, association, partnership, the U. See
- Rental target housing: means target housing offered for lease or rental under a rental agreement as defined in 9 V. See
- RRPM: means the Renovation, Repair, Painting, and Maintenance Program that pertains to projects that disturb lead-based paint on target housing and child-occupied facilities. See
- RRPM activities: means lead-safe renovation, repair, painting, and maintenance practices as required by section 1759 of this chapter and as adopted by rule by the Commissioner. See
- Target housing: means any dwelling constructed prior to 1978, except any 0-bedroom dwelling or any dwelling located in multiple-unit buildings or projects reserved for the exclusive use of elders or persons with disabilities, unless a child six years of age or younger resides in or is expected to reside in that dwelling. See
- Trustee: A person or institution holding and administering property in trust.
§ 1762. Secured lenders and fiduciaries; liability
(a) A person who holds indicia of ownership in rental target housing or a child care facility furnished by the owner or person in lawful possession, for the primary purpose of assuring repayment of a financial obligation, and who takes full legal title through foreclosure or deed in lieu of foreclosure or otherwise shall not be liable as an owner of the property for injury or loss claimed to be caused by exposure to lead of a child on the premises, provided that, on or before the 120th day after the date of possession, the person:
(1) performs RRPM activities as required by section 1759 of this chapter; and
(2) fully discloses to all potential purchasers, operators, or tenants of the property any information in the possession of such person or the person’s agents, regarding the presence of lead hazards or a lead-poisoned child on the property and, upon request, provides copies of all written reports on lead hazards to potential purchasers, operators, or tenants.
(b) The immunity provided in subsection (a) of this section shall expire 365 days after the secured lender or fiduciary takes full legal title.
(c) A person who holds legal title to rental target housing or a child care facility as an executor, administrator, trustee, or the guardian of the estate of the owner and demonstrates that in that fiduciary capacity the person does not have either the legal authority or the financial resources to fund capital or major property rehabilitation necessary to conduct RRPM activities shall not be personally liable as an owner for injury or loss caused by exposure of a child on the premises to lead. However, nothing in this section shall limit the liability of the trust estate for such claims and those claims may be asserted against the trustee as a fiduciary of the trust estate. (Added 1995, No. 165 (Adj. Sess.), § 9; amended 2017, No. 149 (Adj. Sess.), § 2, eff. October 21, 2022.)