Environmental
What is 'polychlorinated biphenyl' (PCB) contamination in the context of Delaware real estate?
AA type of radon contamination in newer construction
BA toxic industrial compound used in electrical transformers and other equipment, banned in 1979; PCB contamination creates significant remediation liability in older industrial properties✓ Correct
CA pesticide used in agricultural Delaware properties that affects ground water
DA mineral compound found naturally in Delaware soil that affects foundations
Explanation
PCBs are toxic industrial compounds used in electrical transformers, hydraulic fluids, and other applications until they were banned in 1979. PCB contamination is common in older industrial properties with electrical equipment.
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Key Terms to Know
Comparable Sales (Comps)
Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
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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