Unit 21 Environmental Issues and the Real Estate Transaction

A set of flashcards covering key vocabulary terms related to environmental issues in real estate transactions.

Asbestos

A fire-resistant mineral used extensively in construction that can create airborne contaminants leading to respiratory diseases when fibers are inhaled.

Brownfields

Abandoned or underused industrial and commercial facilities available for re-use, often contaminated by hazardous substances.

Carbon Monoxide (CO)

A colorless, odorless gas produced from incomplete combustion of fuels, which can cause poisoning and death.

Chlorofluorocarbons (CFCs)

Nontoxic chemicals used in refrigeration and aerosol sprays, known for depleting the ozone layer, largely banned since 1996.

Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA)

Federal law established to clean up uncontrolled hazardous waste sites and identify responsible parties for cleanup.

Encapsulation

The process of sealing off disintegrating asbestos to prevent its fibers from becoming airborne.

Environmental Impact Statement (EIS)

A report required for federally funded projects detailing the project's environmental effects.

Environmental Site Assessment (ESA)

An evaluation to determine if a property has any environmental contamination or hazards.

Lead-Based Paint Hazard Reduction Act (LBPHRA)

Federal law requiring disclosure of known lead-based paint hazards in residential properties built before 1978.

Mold

A fungus that grows on organic substances in moist conditions, which can cause health issues such as allergic reactions and asthma.

Polychlorinated Biphenyls (PCBs)

Chemical compounds banned in 1979, used in electrical equipment, suspected of causing health issues.

Radon

A naturally occurring, radioactive gas that can accumulate in homes and is linked to lung cancer.

Safe Drinking Water Act (SDWA)

Legislation regulating public drinking water quality and safety in the United States.

Underground Storage Tanks (USTs)

Tanks located beneath the ground used to store hazardous substances, subject to strict federal and state regulations.

Urea-Formaldehyde Foam Insulation (UFFI)

A type of insulation that was popular but later banned due to health concerns from formaldehyde emissions.

Waste Disposal Sites

Facilities where waste is legally disposed of, regulated by state and federal law to prevent environmental contamination.

Wetlands

Areas that are saturated with water, either permanently or seasonally, critical for ecological balance and regulated under the Clean Water Act.