+
Related Flashcards
Related Topics
Cards In This Set
| Front | Back |
|
Asbestos
When banned? Health Risks? |
- Used as insulation
- banned in 1978 - Airborne contaminants / respiratory diseases - Encapsulation to seal it off |
|
Lead Paint
When banned? Health Risks? |
- before 1978
- Damage to brain, nervous system, kidneys, blood - Children under age 6 - Must disclose known information (1992 act) Disclosure statement must be attached for props built b4 1978 |
|
Radon
Health Risks? |
- Natural gas, may cause lung cancer
- Decay of radioactive substances in the ground |
|
Formaldehyde
Health Risks? |
- Also building insulation / building materials (wood)
- Insulation: urea-formaldehyde foam insulation (UFFI) - Can release gases, respiratory problems, cancer - SBS (Sick building syndrome) - Since 1985 HUD has placed regulations on wood used |
|
Carbon Monoxide
|
- byproduct of burning fuels
- Dangerous in poor ventilation |
|
Polychlorinated Biphenyls (PCBs)
|
- 1978 banned
- present in electrical equipment - linger for long periods |
|
Chlorofluorocarbons (CFCs)
|
- used AC / Fridges / Aerosols / Paint etc not dangerous to person per se
- Dangerous to environment, deplete ozone |
|
Mold
Health Risks? |
- Found where moist etc
- Respiratory / asthma - EIFS (vinyl wallpaper) |
|
Groundwater Protection
|
- contaminated groundwater can affect drinking / pure water
- 1974 Safe Drinking Water Act |
|
Underground Storage Tanks
- Where found? - Problems? |
- Approx 40% are leaking
- found near Gas station / auto repair (petroleum) - Paint / paper mills / chemical plants - State & Federal laws regulate (by the EPA) - Required to register their tanks (some exemptions) |
|
Waste Disposal Sites
|
- Landfills
- Capping: Process of sealing off top w/ soil & grass. |
|
Brownfields
|
- Old industrial sites
- 2002 legislation to give money for their cleanup - Property owner not liable if they had nothing to do with it |
|
Comprehensive Environmental Response Compensation and Liabilit Act (CERCLA)
|
- Superfund / EPA determines etc bla bla
|
|
Real Estate Professionals' Liability (avoidance of)
|
- Should be familiar with common problems (in area)
- Can look for signs of contamination - Advising (and including as a contingency) and environmental audit if suspected contamination - Giving NO advice on environmental issues **Appraisers have more responsibility die to lenders / value ** Environmental Auditors can do a study (often a condition of closing) |
|
Disclosure of Hazards
|
- State law addresses
- Again only liable if should have known x or y facts (chapter 4) - Be the 'source of the source' |
