What are 'underground storage tanks' (USTs) and why are they a concern?
Why Buried tanks used to store petroleum or hazardous substances; leaks can cause soil and groundwater contamination, creating significant liability and cleanup costs Is Correct
Answer B: Buried tanks used to store petroleum or hazardous substances; leaks can cause soil and groundwater contamination, creating significant liability and cleanup costs
Exam Tip: Environmental
Environmental questions test knowledge of hazards like asbestos, lead-based paint, radon, and mold. Know the disclosure requirements and when a professional inspection is required. CERCLA liability is strict, joint, and several.
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Key Terms to Know
A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
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