Environmental
In New Mexico, a Phase I Environmental Site Assessment (ESA) is conducted by:
AThe buyer alone during the inspection period
BA qualified environmental professional who reviews records, inspects the site, and interviews to identify recognized environmental conditions (RECs) without soil/water sampling✓ Correct
CThe title company as part of the title search
DNMED as part of all commercial transactions
Explanation
A Phase I ESA is conducted by a qualified environmental professional (QEP) per ASTM standards. It reviews records, inspects the site, and interviews to identify RECs but does not include sampling.
People Also Study
Related New Mexico Questions
- A Phase I Environmental Site Assessment (ESA) for a New Mexico commercial property is designed to:Environmental
- A Phase I Environmental Site Assessment (ESA) is designed to:Environmental
- A Phase II Environmental Site Assessment (ESA) is triggered when:Environmental
- In New Mexico, a 'recognized environmental condition' (REC) identified in a Phase I ESA means:Environmental
- In New Mexico, a qualified residential property manager who manages 10 or more units must comply with which financial reporting standards?Property Management
- In New Mexico, which of the following is TRUE about Uniform Standards of Professional Appraisal Practice (USPAP)?Property Valuation
Key Terms to Know
Adverse Possession
A doctrine by which a person can gain legal title to another's land by openly, continuously, and adversely occupying it for a statutory period.
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.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
Study This Topic
Practice More New Mexico Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Mexico Quiz →