Chapter 6 - Environmental Issues in Real Estate

Question 1

Prior to what year is Lead Based Paint a potential issue?

Answer 1

Prior to 1978. Homes built in 1978 or later didn’t user Lead paint. Homes built in 1977 and before did.

Question 2

Lead Based Paint Hazard Reduction Act

Answer 2

Passed by Congress in 1992. Requires

• Disclosure of the known hazards and any records or reports about the same.
• all purchasers and tenants of pre-1978 residential dwellings be given a copy of the EPA pamphlet “Protect You Family from Lead in your Home” before signing a purchase or lease agreement.
• Purchasers are given 10 days to have a leas assessment done

Question 3

Agents responsibility to Seller regarding Lead in pre-1978 homes

Answer 3

Seller must fill out the Lead Based Paint or Lead Based Paint Hazard Addendum.

Question 4

Lead remediation rules

Answer 4

Contractor must be certified and follow specific work practices, violators will be fined $750/day of work

Question 5

Asbestos Description

Answer 5

Many uses prior to it’s banning in 1978. Fibrous mineral with strengthening characteristic and ability to retard heat and resist fire.

Question 6

Friable Asbestos

Answer 6

Asbestos that will become airborne particles if disturbed.

Question 7

NonFriable Asbestos

Answer 7

Will not become airborne if normal contact is made. Can become Friable during repair, renovation or removal.

Question 8

Remediation of Asbestos

Answer 8

Encapsulating (sealing) it off or Removal. Both need to happen by a state licensed asbestos abatement contractor.

Question 9

Radon

Answer 9

Colorless odorless gas that occurs naturally in the ground from decaying uranium deposits.

Question 10

Levels of Radon

Answer 10

4.0 picocuries is the max amount allowed and beyond that a mitigation system must be put in place. Radon levels equal to or greater than 4.0 are considered a material fact.

Question 11

Radon Mitigation Systems

Answer 11

Allow the gases to escape so as to not build up to unsafe levels. (Brokers should determine if radon mitigation systems are in place for proactive or mitigation purposes)

Question 12

Formaldehyde

Answer 12

Colorless gas that is emitted by many common construction materials and consumer products found within the home.

Question 13

Problems with Formaldahyde

Answer 13

Respiratory issues especially in those with existing issues.

Question 14

Toxic Mold

Answer 14

Lots of different types of mold, but if there is toxic mold it is extremely dangerous. Any dampness that is seen in the house should be noted and if a client asks about having it tested, say “I would”

Question 15

North Carolina Leaking Petroleum Underground Storage Tank Cleanup Act.

Answer 15

Regulates the installation of underground storage tanks and controls the risk of leakage and discharge

Question 16

Things to Consider Re Underground Storage Tanks

Answer 16

• Age of home (popular in the ’30s and ’40s)
• Even if oil heat is not still used, the tank may be in place
• Property owners may face heavy fines if there is leakage even if they didn’t install
• Any property that was originally constructed before the 1970s should be inspected to determine if a tank is present and if there was/is any contamination

Question 17

Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA)

Answer 17

The Superfund. Regardless of who caused the problem, the current owner is responsible for the cleanup costs. The Innocent Landowner Immunity provision recognizes that some landowners are infact innocent and in such instances the Landowner can apply to the Superfund to assist with costs.