Unit 22: Environmental Issues and the Real Estate Transaction Flashcards
asbestos
A group of minerals that take the form of tiny fibers. Asbestos has been used as insulation against heat and fire in buildings.
Brownfield
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 and then planting grass on it to enhance the landfill’s aesthetic value and prevent erosion.
carbon monoxide
a colorless, odorless toxic flammable gas formed by incomplete combustion of carbon.
Comprehensive Environmental Response, Compensation, And Liability Act (CERCLA)
A federal law administered by the Environmental Protection Agency that establishes a process for identifying parties responsible for creating hazardous waste sites, forcing liable parties to clean up toxic sites, bringing legal action against responsible parties, and funding the abatement of toxic sites. Also see Superfund.
Encapsulation
A method of controlling environmental contamination by sealing off a dangerous substance.
formaldehyde
a colorless pungent gas in solution made by oxidizing methanol.
Groundwater
The water that exists under the earth’s surface within the tiny spaces or crevices in geological formations.
Innocent Landowner Immunity
A clause of the Superfund Amendments and Reauthorization Act that establishes the criteria by which to judge whether a person or business could be exempted from environmental liability.
Landfill
An enormous hole, either excavated for the purpose of waste disposal or left over from surface mining operations.
Lead
Used as a pigment and drying agent in alkyd oil-based paint in about 75% of housing built before 1978. An elevated level of lead in the body can cause serious damage to the brain, kidneys, nervous system, and red blood cells. Children under the age of six are most vulnerable. EPA states that 50–400 parts per million is a natural level for lead in the soil
Mold
Fungi that grows in the form of multicellular filaments called hyphae. Some mold can cause disease, and others play a role in biodegradation or the production of antibiotics and enzymes.
radon
It comes from the natural decay of uranium that is found in nearly all soils. It typically moves up through the ground to the air above and into your home through cracks and other holes in the foundation. Your home traps radon inside, where it can build up. Any home may have a radon problem.
Superfund Amendments And Reauthorization Act (SARA)
An amendatory statute that contains stronger cleanup standards for contaminated sites, increased funding for Superfund, and clarifications of lender liability and innocent landowner immunity. See also Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA).
Underground Storage Tank (UST)
Commonly found on sites where petroleum products are used or where gas stations and auto repair shops are located. In residential areas, tanks are used to store heating oil. Over time, neglected tanks may leak hazardous substances into the environment.
