RE National Ch 6:Environmental Issues and Property Disclosures

EPA (Environmental Protection Agency)

Regulates and oversees all environmental laws/concerns in the US.

Lead-Based Paint Addendum

Legal document used for properties built before 1978, disclosing the potential presence of lead-based paint; no duty to remediate

Lead-Based Paint Addendum

allows buyer to inspect for lead within 10 days of effective date and can terminate within 15 days after inspection

UST (Underground Storage Fuel Tanks)

Tanks located underground storing fuel, which if old, rusty, or leaking, can cause groundwater contamination.

UST exemptions

1. Farm and residential tanks of 1,100 gallons or less holding motor fuel for noncommercial purposes

2. Tanks storing heating oil used on the premises where it is stored

3. Tanks on or above the floor of underground areas, such as basements or tunnels

4. Septic tanks and systems for collecting storm water and wastewater

Asbestos Abatement

A plan or process for the removal or encapsulation of asbestos.

Friable

Describing asbestos - Easily crumbled or pulverized releasing fibers into the air.

Radon Mitigation

The process of reducing radon levels.

Mold

more likely in newer home with tighter construction, if visible, it should but not must be removed.

Clear Water

Water that is safe for drinking.

Gray Water

Gently used water from sources like washing machines, showers, and sinks.

Black Water

Wastewater containing sewage.

Brownfield

Land contaminated by hazardous waste.

Wetland

Areas saturated by water, sometimes habitats for endangered species. also called Fen, regulated by EPA

Army Corps of Engineers

They create maps for flood-prone areas.

US Environmental Protection Agency

Federal agency responsible for regulating and enforcing laws related to environmental protection, including air and water quality, chemical safety, and waste management.

Texas Railroad Commission

Agency (in Texas) that oversees gas and oil leases.

CERCLA - Comprehensive Environmental Response, Compensation and Liability Act - 1980

Act that allows Indian tribes and federal/state regulatory agencies to spend money for cleanup of hazardous substances.

ESA Phase 1- Site Assessment

Assessment to determine potential environmental problems on a site.

ESA Phase 2

Includes boring or drilling to gather samples for environmental testing.

Topographic Survey

A detailed mapping of the contours and features of land, showing elevations and the layout of natural and man-made structures.

Seller’s Disclosure

Disclosure form prepared by the seller regarding property conditions; material facts

Inspections

should always be recommended by agents