EnvironmentalIntermediateDelaware Exam

What are 'polychlorinated biphenyls' (PCBs) and why are they relevant to Delaware real estate?

AA natural gas compound found near natural gas lines; relevant for safety

BToxic industrial chemicals once used in electrical equipment and paints that persist in the environment and create significant cleanup liabilityCorrect

CA naturally occurring mineral in Delaware soils

DAir quality pollutants regulated only in industrial settings

Why Toxic industrial chemicals once used in electrical equipment and paints that persist in the environment and create significant cleanup liability Is Correct

Answer B: Toxic industrial chemicals once used in electrical equipment and paints that persist in the environment and create significant cleanup liability

PCBs are toxic, persistent industrial chemicals (formerly used in transformers, capacitors, and building materials). Their cleanup is highly regulated under TSCA, and their presence creates significant environmental liability in real estate.

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

Debt-to-Income Ratio (DTI)

A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.

Zoning

Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.

Variance

Official 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.

Eminent Domain

The power of government to take private property for public use, with the requirement to pay the owner just compensation.