Unit 21: Environmental Issues and the Real Estate Transaction Flashcards
Asbestos has been banned for use in insulation since ____. ______________ can prevent asbestos fibers from becoming airborne.
1978, Encapsulation
Real estate professionals must provide buyers and lessees with Protect Your Family from ____ in Your Home, a pamphlet created by EPA, HUD, and the Consumer Product Safety Commission.
Lead
_______________ __________ (PCBs), which are suspected of causing health problems, may be found in electrical equipment. The manufacture and commercial distribution of PCBs has been banned since ____.
Polychlorinated biphenyls, 1979
A landfill disposal site, whether excavated or created in previously mined property, is _____ to prevent seepage, ______ with soil for aesthetic reasons, and ______ to release gases created by decomposing waste.
lined, capped, vented
___________ legislation encourages development of abandoned properties by shielding innocent developers from liability for toxic wastes that existed at a site prior to purchase.
Brownfields
A Phase 1 ESA is a ________ examination of the property and investigation of its history; a Phase 2 ESA includes ________ of ____ and other materials, and is performed if it appears a problem may exist. An environmental impact statement (EIS) is required for federally funded projects and may be required by the state or locality.
physical, sampling of soil
Cardon Monoxide is a problem often encountered by property managers if tenants use ________ heaters.
kerosene
Does a seller have any responsibilities regarding lead-based paint?
Yes. Sellers have to disclose known information on lead-based paint and hazards prior to execution of a contract for sale. Sales contracts must include a completed disclosure form about lead-based paint.
The EPA now requires that water suppliers report any health risk situation within __ hours, instead of the __ hours mandated originally.
24, 72
Anything other than a _________ water supply should be tested.
municipal
The R_______ C___________ and R_______ Act (RCRA) is the federal law that gives the EPA authority to develop a program for proper management of underground storage tanks, as well as hazardous and nonhazardous solid waste.
Resource Conservation and Recovery
The Superfund Amendments and Reauthorization Act (SARA) created an “________ _________” immunity status.
innocent landowner
T/F: An ecological site assessment, commonly called Phase 1 or Phase 2, is often performed on a property to show that due care was exercised in determining whether any environmental impairments exist.
False. The work described is called an environmental site assessment (ESA).
Federal and state laws regarding storage of hazardous substances or liquid petroleum products apply to underground storage tanks that have at LEAST what percentage of their volume underground?
10%
