What is an 'environmental lien' and how does it affect Delaware real property?
Why A government lien on contaminated property to secure the cost of environmental cleanup Is Correct
Answer B: A government lien on contaminated property to secure the cost of environmental cleanup
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.
Key Environmental Terms in This Question
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Key Terms to Know
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
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