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Asbestos Addendum Form

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Updated on May 1st, 2023

An asbestos addendum is a form added to a real estate purchase agreement to establish terms regarding asbestos on the property. It requires the seller to disclose whether they’re aware of any asbestos and, if they are, to let the buyer know where it can be found on the property. The addendum may also obligate the seller to take specific actions to make sure the property is safe and habitable, such as performing inspections and having the asbestos professionally removed or sealed before the buyer takes ownership.

Sample

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ASBESTOS ADDENDUM

1. THE PARTIES. This Asbestos Purchase Agreement Addendum (“Addendum”) made this [MM/DD/YYYY] is by and between:

Seller: [SELLER’S NAME] (“Seller”) and

Buyer: [BUYER’S NAME] (“Buyer”).

The Seller and Buyer are each referred to herein as a “Party” and, collectively, as the “Parties.”

2. ORIGINAL AGREEMENT. This Addendum is being added to the purchase agreement between the Parties, dated [MM/DD/YYYY] (“Original Agreement”), for the property located at [PROPERTY ADDRESS] (“Property”).

3. DISCLOSURE. The Seller is: (check one)

☐ – NOT AWARE of the presence of asbestos in or around the Property.
☐ – AWARE that asbestos is present in the following locations on the Property: [DESCRIBE WHERE ASBESTOS IS KNOWN TO EXIST].

4. INSPECTION. The Parties agree that the Seller is [WRITE “required” OR “not required”] to hire a qualified professional to inspect the Property for the presence of asbestos.

5. ABATEMENT. The Parties agree to the following terms and conditions regarding the repair or removal of asbestos on the Property: [DESCRIBE HOW ASBESTOS WILL BE TREATED].

All asbestos abatement activities shall be conducted by a qualified professional and performed in accordance with state, local, and federal laws and regulations.

6. RESPONSIBILITY AND COSTS. All responsibility and costs in connection with the repair or removal of asbestos shall be assumed by the [WRITE “Seller” OR “Buyer].

7. EXECUTION. This Addendum may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

Seller Signature: ___________________ Date: [MM/DD/YYYY]
Print Name: [SELLER’S NAME]

Buyer Signature: ___________________ Date: [MM/DD/YYYY]
Print Name: [BUYER’S NAME]

Frequently Asked Questions

Are sellers required to disclose asbestos?

It depends. Some states require sellers to disclose the presence of asbestos if they have actual knowledge that it exists on the property. If a state requires asbestos disclosure, and the seller knows of asbestos but chooses not to reveal this information, the buyer could sue for damages.

Sellers should always review the laws and regulations in their area to determine whether asbestos disclosure is necessary (State Disclosure Laws).

Does the addendum include abatement terms?

Yes. In the addendum, the parties can indicate whether any asbestos on the property will need to be professionally removed or sealed, as well as who’ll be responsible for the abatement costs.