Until 21 Environmental Issues and the Real Estate Transaction Flashcards
What is asbestos?
A fire resistant mineral once used extensively as insulation. The airborne contaminates that may result in respiratory diseases.
What is encapsulation?
The sealing off of disintegrated asbestos.
What is Lead?
A pigment and drying agent in alkyd oil-based paint. Can result in damage to brain nervous, system, kidneys and blood. Children under the age of six are vulnerable.
What is Radon?
A naturally occurring, colorless, odorless, tasteless, radioactive gas produced by the decay of other radioactive substances. 4.0 pCi/L (10-20 pico=2 packs a day)
What is Formaldehyde?
A colorless chemical with a strong, pronounced color, is used widely in the manufacture of building materials.
What is Carbon Monoxide?
A colorless, odorless, and tasteless gas, that occurs from incomplete combustion.
What is the water table?
Natural Level at which the ground is saturated.
What is groundwater?
Water that is underneath the earth.
What is a brownfield?
Defunct, derelict, or abandoned commercial or industrial sites which are suspected to contain toxic wastes.
What is capping?
Process of laying two feet of soil over the top of the site and then planting grass.
What is CERCLA?
Comprehensive Environmental Response Compensation and Liability Act - Established The Super Fund Law, clean up and identify responsible parties.
What are the various forms of environmental liability?
1- strict landowner has no defense
2- joint and several liability -each of several responsible for entire clean up
3- retroactive liability - present and previous owners at fault
4- innocent landowner immunity per CERCLA
What is the a real estate professional liable for?
1- Asking the owner about any issues
2- recommending an environmental site assessment (ESA)
a. Phase I physical examination and property investigation
b. Phase II sampling of soil and other materials.
What is an EIS?
Environmental Impact Study required for federally funded projects.
What are PCBs?
Polychlorinated Biphenyls suspected of causing health problems.
