What are the disclosure requirements for asbestos in real estate?

Asbestos is a naturally occurring mineral fiber used extensively in building materials before the 1970s for insulation, floor tiles, roofing, and pipe insulation. When disturbed, asbestos fibers become airborne and can cause serious lung diseases including mesothelioma. While federal law does not require sellers to test for asbestos, sellers and their agents must disclose known asbestos or asbestos-containing materials. The Asbestos Hazard Emergency Response Act, or AHERA, requires schools to inspect for and manage asbestos.