Ch. 21 Environmental Issues and the Real Estate Transaction

Question 1

asbestos

Answer 1

a fire resistant mineral, highly friable, meaning that as it ages fibers easily break down into tiny, very light filaments that stay in the air a long time, when inhaled fibers develop serious and deadly respiratory diseases decades later

Question 2

brownfields

Answer 2

Defunct, derelict, or abandoned commercial or industrial sites; many have toxic wastes

Question 3

carbon monoxide (CO)

Answer 3

A colorless, odorless gas that occurs as a by-product of fuel combustion that may result in death in poorly ventilated areas

Question 4

chlorofluorocarbons (CFCs)

Answer 4

Nontoxic, nonflammable chemicals containing atoms of carbon, chlorine, and fluorine, such as air conditioners and refrigerators. CFCs are safe in application but cause ozone depletion

Question 5

Comprehensive Environmental Response, Compensation and Liability Act (CERCLA)

Answer 5

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.

Question 6

encapsulation

Answer 6

sealing off of disintegrating asbestos

Question 7

environmental impact statement (EIS)

Answer 7

A statement that details the impact a project will have on the environment

Question 8

environmental site assessment (ESA)

Answer 8

An evaluation of property to show that due care was exercised in the determination of environmental impairments.

Question 9

formaldehyde

Answer 9

colorless chemical with a strong, pronounced odor, used widely in the manufacture of bldg materials and many household products because of its preservative characteristics (probably human carcinogen)

Question 10

groundwater

Answer 10

water that exists under the earth’s surface within the tiny spaces or crevices in geological formations

Question 11

hydraulic fracturing (fracking)

Answer 11

the process used to extract natural gas from the deep layers of rock in which it is embedded

Question 12

lead

Answer 12

used as a pigment and drying agent in alkyd oil-paint until 1978 (damage to brain, nervous system, kidneys, and blood. Children younger than 6 are very vulnerable)

Question 13

Lead-Based Paint Hazard Reduction Act (LBPHRA)

Answer 13

required disclosure of the presence of any known lead-based paint hazards to potential buys or renters

Question 14

mold

Answer 14

A form of fungus that can be found almost anywhere and can grow on almost any organic substance, so long as moisture and oxygen are present. Mold growth can gradually destroy what is growing on , as well as cause serious health problems

Question 15

polychlorinated biphenyls (PCBs)

Answer 15

Used as an insulating material in dielectric oi. It can linger in the environment for long periods of time and cause health problems

Question 16

radon

Answer 16

naturally occurring, colorless, odorless, tasteless, radioactive gas produced by the decay of other radioactive substances (class A known human carcinogen)

Question 17

Small Business Liability Relief and Brownfields Revitalization Act

Answer 17

Law that provides funds to assess and clean up brownfields, clarifies liability protections, and provides tax incentives toward enhancing state and tribal response programs

Question 18

Superfund Amendments and Reauthorization Act (SARA)

Answer 18

An amendatory statue that contains stronger cleanup standards for contaminated sites, increased funding for Superfund, and clarifications of lender liability and innocent landowner immunity

Question 19

underground storage tanks (USTs)

Answer 19

commonly found on sites where petroleum products are used or where gas stations and auto repair shops are located, and subject to federal and state regulations. In residential areas, tanks are used to store heating oil. Neglected tanks may leak hazardous substances into the environment

Question 20

urea-formaldehyde foam insulation (UFFI)

Answer 20

once popular, then banned, now legal again but rarely used, insulating foam that can release harmful formaldehyde gases. Formaldehyde causes some individuals to suffer respiratory problems, as well as eye and skin irritations.

Question 21

water table

Answer 21

The natural level at which the ground is saturated. The water table may be several hundred feet underground or near the surface

Question 22

Superfund

Answer 22

Popular name of the hazardous-waste cleanup fund established by CERCLA