Unit 21 - Enviromental Issues & The RE Transaction Flashcards
Hazard substances
Asbestos- 20% of buildings and houses have it. Latex paint encapsulates it. Banned 1978. In 3000 different building material
- no guidelines for residential housing
- not required to move it
Friable
Stays in air
Lead based paint abs other hazard
Inhaled or infested.
Paint and pipes
Alkaloid paint has led in it.
57 million homes
75% have it prior to 1978
Led based paint hazard reduction act - LBPHRA
Must give EPA disclosure to buyer
10 days to set up lead based inspection
Radon
Gas produced by decaying radioactive substances
Class A carcinogen
Below 4 pCi/L -picocarry
Alpha track detector
Home based radon detector- 48 hours
Electronic continuous monitoring
Continuous tracking of radon
Formaldehyde
Must find level of gas and source
Probable carcinogen
10-20% are sensitive to it
Respiratory and skin irritation
Major contributor to SBS- sick building syndrome
Pressed wood products
HUD regulated since 1985
2013 new regulations enforced by EPA
1990 clean air act
Must measure indoor air pollutant
2013 new regulations
Wood with adhesives
UFFI
Urea formaldehyde foam insulation
Insulation with formaldehyde
Was banned. Now it’s legal
Carbon monoxide
Non combusted carbon monoxide
Sources: Portable generator Furnaces Space heaters Wood stoves Improper ventilation Equipment failure
Polychlorinated Biphenyls(PCB)
Used in insulated materials and old caulking
1970 or older electronic equipment
Cause issuer when it breaks it container
Doesn’t not break down .
Reasonably carcinogenic
Banned in 1979
Chlorofluorocarbons CFCs
Old air conditioner and refrigerator aerosols spays, paint
Harmless in lower atmosphere - nontoxic or flammable
Deplete ozone layer
Ended in 1996
Mold
Potentially potent.
Cause by moisture problem
The buyer has the right and burden of discovery
Right to see if anything is wrong with the property
Electro magnetic field
Generated by the movement of electrical current
Puts out EMFs
Groundwater protection
Water table-underneath the earth
Septic system
Leaking storage tanks
Dump hazard materials
Safe drinking water act
1974
Amendments in 1986 and 1996
Report any health risk within 24 hrs
Fracking
EPA newest concern
UST
Must be at least 10% underground
Underground storage tANK
EPA regulated
Not regulated:
Under 110 gallons
Under 1100 gallons motor fuel for non commercial use
Stores heated oil for on premise use
Not burried
Septic tanks to collect waste and storm water
Tomb
Radioactive landfill
Capping
2-4 feet above landfill
Brownfield
Abandon factories
Browns field law 2002 - provide $ for purchase from government, liability protection, and tax rebate. Shields the innocent
EPA
Environmental protection agency
CERCLA
Comprehensive environmental response, compensation, and liability act
1980
Cleans hazardous situations
Identify responsible parties and makes them clean it up
Strict liability
Owner responsible/ no excuse
1 person
Joint and several liability
Each owner responsible
Retroactive liability
Current owner not the only person responsible
Superfund amendment and reauthorization act
SARA
revision to CERCLA
Giving more than 9 billion
Protects the innocent
Innocent landowner immunity clause
Potentially reasonable party PRP
EPA can bring a civil action against you for 3x the amount of clean up
Agent liability
Become aware of environmental issues
ESA
Environmental site assessment
Phase 1 - examine area
Phase 2- testing if needed
EIS
Environmental impact statement
Federally funded project and private development
