Unit 21 - Enviromental Issues & The RE Transaction Flashcards

1
Q

Hazard substances

A

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
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2
Q

Friable

A

Stays in air

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3
Q

Lead based paint abs other hazard

A

Inhaled or infested.

Paint and pipes

Alkaloid paint has led in it.

57 million homes
75% have it prior to 1978

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4
Q

Led based paint hazard reduction act - LBPHRA

A

Must give EPA disclosure to buyer

10 days to set up lead based inspection

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5
Q

Radon

A

Gas produced by decaying radioactive substances

Class A carcinogen

Below 4 pCi/L -picocarry

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6
Q

Alpha track detector

A

Home based radon detector- 48 hours

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7
Q

Electronic continuous monitoring

A

Continuous tracking of radon

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8
Q

Formaldehyde

A

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

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9
Q

1990 clean air act

A

Must measure indoor air pollutant

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10
Q

2013 new regulations

A

Wood with adhesives

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11
Q

UFFI

A

Urea formaldehyde foam insulation

Insulation with formaldehyde

Was banned. Now it’s legal

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12
Q

Carbon monoxide

A

Non combusted carbon monoxide

Sources:
Portable generator 
Furnaces 
Space heaters 
Wood stoves
Improper ventilation 
Equipment failure
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13
Q

Polychlorinated Biphenyls(PCB)

A

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

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14
Q

Chlorofluorocarbons CFCs

A

Old air conditioner and refrigerator aerosols spays, paint

Harmless in lower atmosphere - nontoxic or flammable

Deplete ozone layer

Ended in 1996

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15
Q

Mold

A

Potentially potent.

Cause by moisture problem

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16
Q

The buyer has the right and burden of discovery

A

Right to see if anything is wrong with the property

17
Q

Electro magnetic field

A

Generated by the movement of electrical current

Puts out EMFs

18
Q

Groundwater protection

A

Water table-underneath the earth

Septic system
Leaking storage tanks
Dump hazard materials

19
Q

Safe drinking water act

A

1974

Amendments in 1986 and 1996

Report any health risk within 24 hrs

20
Q

Fracking

A

EPA newest concern

21
Q

UST

A

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

22
Q

Tomb

A

Radioactive landfill

23
Q

Capping

A

2-4 feet above landfill

24
Q

Brownfield

A

Abandon factories

Browns field law 2002 - provide $ for purchase from government, liability protection, and tax rebate. Shields the innocent

25
EPA
Environmental protection agency
26
CERCLA
Comprehensive environmental response, compensation, and liability act 1980 Cleans hazardous situations Identify responsible parties and makes them clean it up
27
Strict liability
Owner responsible/ no excuse 1 person
28
Joint and several liability
Each owner responsible
29
Retroactive liability
Current owner not the only person responsible
30
Superfund amendment and reauthorization act
SARA revision to CERCLA Giving more than 9 billion Protects the innocent Innocent landowner immunity clause
31
Potentially reasonable party PRP
EPA can bring a civil action against you for 3x the amount of clean up
32
Agent liability
Become aware of environmental issues
33
ESA
Environmental site assessment Phase 1 - examine area Phase 2- testing if needed
34
EIS
Environmental impact statement Federally funded project and private development