21. Environmental Issues and the Real Estate Transaction Flashcards
ASBESTOS
A mineral once used in insulation and other materials that can cause respiratory diseases.
BROWNFIELDS
Defunct, derelict, or abandoned commercial or industrial sites; many have toxic wastes.
BROWNFIELDS LEGISLATION
Provides federal funding to states and localities to clean up brownfields sites.
CAPPING
The process of laying two to four feet of soil over the top of a site and then planting grass or some other vegetation on it to enhance the landfill’s aesthetic value and to prevent erosion.
CARBON MONOXIDE
A colorless, odorless gas that occurs as a by-product of burning such fuels as wood, oil, and natural gas owing to incomplete combustion. Also known as CO.
COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION, AND LIABILITY ACT (CERCLA)
A federal law administered by the Environmental Protection Agency that establishes a process for identifying parties responsible for creating hazardous waste sites, forcing liable parties to clean up toxic sites, bringing legal action against responsible parties, and funding the abatement of toxic sites. See Superfund.
ELECTROMAGNETIC FIELDS (EMFS)
Generated by the movement of electrical currents.
ENCAPSULATION
A method of controlling environmental contamination by sealing off a dangerous substance.
GROUNDWATER
Water that exists under the earth’s surface within the tiny spaces or crevices in geological formations.
JOINT AND SEVERAL LIABILITY
Each of the individual owners is personally responsible for the total damages.
LANDFILL
An enormous hole, either excavated for the purpose of waste disposal or left over from surface mining operations.
LEAD
Material used as a pigment and drying agent in alkyd oil-based paint.
MOLD
Can be found almost anywhere and can grow on almost any organic substance, so long as oxygen and moisture are present. Can cause serious health problems.
POLYCHLORINATED BIPHENYLS (PCBS)
Often used as an insulating material in dielectric oil. May be present in electrical equipment. Suspected of causing health problems.
RADON
A naturally occurring gas that is suspected of causing lung cancer.
RETROACTIVE LIABILITY
Liability is not limited to the current owner, but includes people who have owned the site in the past.
STRICT LIABILITY
The owner is responsible to the injured party without excuse.
UNDERGROUND STORAGE TANKS (USTS)
Commonly found on sites where petroleum products are used or where gas stations and auto repair shops are located. Neglected tanks may leak hazardous substances into the environment.
UREA-FORMALDEHYDE FOAM INSULATION (UFFI)
Used in building materials, particularly insulation, in the 1970’s. Gases leak out of the UFFI as it hardens, and the gases become trapped in the interior of a building. Urea-formaldehyde is known to cause cancer in animals, though its effect on humans is inconclusive.
WATER TABLE
The natural level at which the ground is saturated.
