Methamphetamine Laboratory Disclosure Clause Samples
The Methamphetamine Laboratory Disclosure clause requires parties to a real estate transaction to disclose whether the property has ever been used as a site for manufacturing methamphetamine. In practice, this clause obligates the seller to inform the buyer if the property was previously involved in meth production, which may include providing documentation or answering specific questions during the sale process. Its core function is to protect buyers from unknowingly purchasing properties that may pose health risks or require costly remediation due to contamination, thereby ensuring transparency and informed decision-making.
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Methamphetamine Laboratory Disclosure. The parties acknowledge that each Seller of a Colorado Property is required to disclose whether such Seller knows that its Property was previously used as a methamphetamine laboratory. No disclosure is required if such Property was remediated in accordance with state standards and other requirements are fulfilled pursuant to § 25-18.5-102, C.R.S. Purchaser further acknowledges that Purchaser has the right to engage a certified hygienist or industrial hygienist to test whether any of the Properties has ever been used as a methamphetamine laboratory. If Purchaser's test results indicate that a Property has been used as a methamphetamine laboratory, but has not been remediated to meet the standards established by rules of the Colorado State Board of Health promulgated pursuant to § 25-18.5-102, C.R.S., Purchaser shall promptly give written notice to Seller's Representative of the results of the test, and Purchaser may terminate this Agreement.
Methamphetamine Laboratory Disclosure. The parties acknowledge that Seller is required to disclose whether Seller knows that the Property was previously used as a methamphetamine laboratory. No disclosure is required if the Property was remediated in accordance with state standards and other requirements are fulfilled pursuant to § 25-18.5-102, C.R.S. Buyer further acknowledges that Buyer has the right to engage a certified hygienist or industrial hygienist to test whether the Property has ever been used as a methamphetamine laboratory. In the event that the Property has been used as a methamphetamine laboratory, Buyer may deliver written notice to Seller, on or before Closing, to terminate this Contract.
Methamphetamine Laboratory Disclosure. If the Property is residential, and Seller knows that methamphetamine was ever manufactured, processed, cooked, disposed of, used, or stored at the Property, Seller is required to disclose such fact. No disclosure is required if the Property was remediated in accordance with state standards and other requirements are fulfilled pursuant to § 25-18.5- 102, C.R.S. Purchaser further acknowledges that Purchaser has the right to engage a certified hygienist or industrial hygienist to test whether the Property has ever been used as a methamphetamine laboratory. If the Property has been used as a methamphetamine laboratory, Purchaser may deliver written notice to Seller, on or before Closing, to terminate this Contract.
Methamphetamine Laboratory Disclosure. The parties acknowledge that Sellers are required to disclose whether Sellers know that the Property was previously used as a methamphetamine laboratory. Sellers herein state that Sellers are not aware of any such use of the Property. No disclosure is required if the Property was remediated in accordance with state standards and other requirements are fulfilled pursuant to C.R.S. 25-18.5-102. Purchaser further acknowledges that the Purchaser has the right to engage a certified hygienist or industrial hygienist to test whether the Property has ever been used as a methamphetamine laboratory. In the event that the Property has been used as a methamphetamine laboratory, Purchaser may deliver written notice to Sellers of such, on or before the Closing Date, and this agreement shall be terminated.