EnvironmentalIntermediateDelaware Exam
What is a Phase I Environmental Site Assessment used for in Delaware commercial real estate?
ATo evaluate the structural integrity of buildings
BTo identify recognized environmental conditions on or near a propertyCorrect
CTo assess the property's flood zone status
DTo determine if the property contains lead-based paint
Why To identify recognized environmental conditions on or near a property Is Correct
Answer B: To identify recognized environmental conditions on or near a property
A Phase I ESA involves a review of historical records, regulatory databases, and a site inspection to identify recognized environmental conditions (RECs) — evidence of past or present hazardous substance contamination.
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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