PSI-Chapter 21 - Environmental Issues and the Real Estate Transaction

Question 1

What is ENCAPSULATION?

Answer 1

The sealing off of disintegrating asbestos. It’s an alternate method of asbestos control that may be preferable to removal in certain circumstances, provided the condition of the encapsulated asbestos is monitored periodically to make sure it is not disintegrating.

Question 2

What are USTs?

Answer 2

UNDERGROUND STORAGE TANKS
They are commonly found on sites where petroleum products are used or where gas stations and auto repair shops are or were located.
Also: printing and chemical plants, wood treatment plants, paper mills, paint manufacturers, dry cleaners, food processing plants, chemical storage or process waste plants. Military bases and airports.

Question 3

A Real Estate agent can avoid liability with environmental issues by?

Answer 3

1. becoming familiar with common environmental problems in the licensee’s area,
2. looking for signs of environmental contamination
3. suggesting (and including as a contingency) an environmental audit if the licensee suspects contamination, and
4. giving no advice on environmental issues.

Question 4

What is an ENVIRONMENTAL IMPACT STATEMENT?

Answer 4

An (EIS) details the impact the project will have on the environment. It can include information about air quality, noise, public health and safety, energy consumption, population density, wildlife, vegetation, and the need for sewer and water facilities.