Unit 21: environmental issues and the real estate transaction Flashcards
asbestos
A mineral once used in insulation and other materials that can cause respiratory diesease.
brownfields
Defunct, derelict, or abandoned commercial or industrial sites, many have toxic wastes.
capping
The process of laying two to four feet of soil over the top of a landfill site and then planting grass on it to enhance the aesthetic value and prevent erosion.
carbon monoxide (CO)
A colorless, odorles gas that occurs as a by product of fuel combustion that may result in death and poorly ventilated areas.
chlorofluorocarbons (CFCs)
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.
comprehensive environmental response, compensation, ad liability act (CERLA)
A federal law administered by the environmental protection age4ncy that establishes a process for identifying parties responsible for creating hazardous waste sties, forcing liable parties to clean up toxic sites, bringing legal action against responsible parties and funding the abatement of toxic sites. See also superfund.
encapsulation
A method of controlling environmental contamination by sealing off a dangerous substance, such as asestos.
environmental impact statement (EIS)
a statement that details the impact a project will have on the environment
environmental site assessment (ESA)
An evaluation of property to show that due care was exercised in the determination of environmenal impairments.
formaldehyde
An air pollutant that is a colorless chemical used to manufacture building materials and many household products, such a particleboard, hardwood plywood panaleing, and unre-formaldehyde foam insulation.
groundwater
Water that exists under the earth’s surface within the tiny spaces or crevices in geological formations.
hydraulic fracturing (fracking)
The process used to extract natual gas from the deep layers of ock in which it is embedded.
lead
Used as pigment and drying agent in alkyd oil-based paint in about 75% of housing built before 1978. An elevate level of lea in the body can cause serious damage to the brain, kidneys, nervous system, and red blood cells. Children yuonger than six are most vulnerable.
lead-based paint hazard reduction act (LBPHRA)
Federal legislation requiring disclosure of the presence of any known lead based pint hazards to potential buyers or renters. The law does not require that anyone test for the presence of lead-based paint, however.
judicial precedent
In law, the requirements established by prior court decisions within jurisdiction of the dispute.
mold
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 it is growing on, as well as cause serious health problems.
polyhlorinated biphenyls (PCBs)
Used as an insulating material in dielctric oil. It can linger in the enviornment for long periods of time and can cause health problems.
radon
A naturally occurring gas that is suspected of causing lung cancer.
Safe drinking water act
An act to protect public health by authorizing the EPA to set national health -based standards for drinking water.
small business liablity relief and brownfields revitalization act
Law that provides funds to assess and clean up brownfields, clarifies liability protections, and provides tax incentives toward enhancing state and tribal response programs (also known as brownfield law)
Superfund amendments ad reauthorization act (SARA)
An amendatory stature that contains stronger cleanup standards for contaminated sites, increased funding for superfund, and clarifications f lender liability and innocent landowner immunity. See comprehensive environmental response, compensation, and liability act (CERCLA)
Superfund
Popular name of the hazardous waste cleanup fund established by the comprehensive environmental response, compensation, and liability act (CERCLA)
underground storage ans (USTs)
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 residentuial areas, tanks are used to store heating oil,. Over time, neglected tanks may leak hazardous substances into the environmental.
unrea0formaldehyde foam insulation (UFFI)
Insulating foam that can release harmful formaldehyde gases. Formaldehyde causes some individuals to suffer respiratory problems , as well as eye and skin irritations.
water table
The natural level at which the ground is saturate. The water table may be several hundred feet underground or near the surface,.
