Environmental Issues and Real Estate Transactions

Question 1

mineral composed of fibers that have fireproofing and insulating qualities, but it is a health hazard when fibers break down (become friable) and are inhaled. Banned for use in insulation in 1978

Answer 1

Asbestos

Question 2

can prevent asbestos fibers from becoming airborne.

Answer 2

encapsulation

Question 3

can be found in pipes, pipe solder, paints, air, and soil

Answer 3

lead

Question 4

found in many of the housing units built before 1978. Lead accumulates in the body and can damage the brain, nervous system, kidneys, and blood.

Answer 4

lead-based paint

Question 5

requires disclosure of known lead-based paint hazards to potential buyers or renters.

Answer 5

Lead-Based Paint Hazard Reduction Act of 1992 (LBPHRA)

Question 6

Real estate professionals must provide buyers and lessees with a pamphlet created by EPA, HUD, and the Consumer Product Safety Commission. Contractors and remodelers who disturb painted surfaces in homes, schools, and child care facilities built before 1978 must be trained and certified in the EPA’s lead-based work practices.

Answer 6

Protect Your Family from Lead in Your Home

Question 7

an odorless, tasteless, radioactive gas produced by the natural decay of radioactive substances in the ground and is found throughout the United States.

Answer 7

radon

Question 8

described as a hazardous air pollutant in the Clean Air Act Amendments of 1990, is used for building and household products

Answer 8

Formaldehyde

Question 9

is a colorless, odorless gas that is by-product of fuel burning.

Answer 9

Carbon-monoxide

Question 10

uspected of causing health problems, may be found in electrical equipment. The manufacture and commercial distribution of PCBs has been banned since 1979.

Answer 10

Polychlorinated biphenyls (PCBs),

Question 11

used in refrigerators, aerosol sprays, paints, solvents, and foam applications, are no longer manufactured worldwide, for the most part since 1996.

Answer 11

Chlorofluorocarbons (CFCs)

Question 12

found under the earth’s surface and forms the water table

Answer 12

groundwater

Question 13

regulates the public drinking water supply.

Answer 13

Safe Drinking Water Act (SDWA) of 1974

Question 14

contain petroleum products, industrial chemicals, and other substances are subject to federal law (regulated by EPA) and state law When a purchase is being considered, a careful inspection of any property on which USTs are suspected should be conducted.

Answer 14

Underground Storage Tanks

Question 15

encourages development of abandoned properties by shielding innocent developers from liability for toxic wastes that existed at a site prior to purchase.

Answer 15

brownfields legislation

Question 16

a Superfund to clean up uncontrolled hazardous waste sites and identifies potential responsible parties (PRPs).

Answer 16

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

Question 17

means that the landowner has no defense to the responsibility for cleanup

Answer 17

strict liability

Question 18

means that each of several landowners is responsible for the entire cleanup

Answer 18

joint and several liability

Question 19

occurs when the present owner and previous owners are considered responsible for cleanup.

Answer 19

retroactive liability

Question 20

physical examination of the property and investigation of its history

Answer 20

Phase 1 ESA

Question 21

includes sampling of soil and other materials, and is performed if it appears a problem may exist.

Answer 21

Phase 2 ESA

Question 22

required for federally funded projects and may be required by the state or locality.

Answer 22

Environmental Impact Statement

Question 23

Real estate professionals should always recommend testing the water supply when it is not part of

Answer 23

municipal water supply

Question 24

The federal underground storage tanks (UST) program is regulated by

Answer 24

EPA

Question 25

Federal regulation of numerous environmental hazards is carried out by

Answer 25

EPA

Question 26

MOST seller property disclosures are required for

Answer 26

only residential properties.

Question 27

Tombs buried deep underground contain materials such as

Answer 27

radioactive waste

Question 28

Who should real estate professionals rely on for sound environmental information?

Answer 28

technical experts in the field

Question 29

For residential property, some jurisdictions may mandate

Answer 29

the placement of carbon monoxide detectors.

Question 30

To avoid liability associated with environmental issues, the real estate professional should

Answer 30

become familiar with common environmental problems.

Question 31

The MOST common source of harmful lead in older residential properties is

Answer 31

alkyd oil-based paint.

Question 32

A federally funded project requires

Answer 32

an environmental impact statement.

Question 33

Waste disposal sites are

Answer 33

capped with soil for aesthetic reasons.

Question 34

The EPA requires that water suppliers report any health risk situation within

Answer 34

24 hours.

Question 35

According to the U.S. General Accounting Office, brownfields plague communities and

Answer 35

often contribute to a decline in property values.

Question 36

The process used to extract natural gas from deep layers of rock is known as

Answer 36

fracking

Question 37

At least how much of a tank must be underground for it to be considered an underground storage tank?

Answer 37

10%

Question 38

A prospective buyer of commercial or industrial property should include in an offer to purchase

Answer 38

a contingency to allow for an environmental site assessment.

Question 39

What is provided by the Brownfields Law?

Answer 39

Funding to clean up abandoned industrial sites

Question 40

Sealing off asbestos instead of removing it is called

Answer 40

encapsulation

Question 41

Which of these is responsible for administering the Superfund?

Answer 41

EPA

Question 42

With the exception of the innocent landowner, liability under the Superfund is

Answer 42

strict, joint and several, and retroactive.

Question 43

The natural level at which ground is saturated with water is called

Answer 43

water table