Banks trying to unload foreclosed properties must comply with a new lead-based paint rule that begins phasing in next month.

The rule requires buyers of bank-owned properties be notified about the possibility of lead-paint contamination. It applies to houses built before 1978, the year the government outlawed the paint. Banks that own properties with five or more units must comply by Sept. 6. They have until Dec. 6 for properties with fewer units.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.