Environmental
Asbestos-containing materials (ACM) in a Pennsylvania commercial building being sold must be:
ACompletely removed before the property can be sold
BDisclosed to buyers as a known condition, with a management plan if the building is occupied✓ Correct
CTested by a PADEP-certified inspector on every transfer
DRemediated under EPA supervision before any transaction
Explanation
Known asbestos-containing materials are a material fact that must be disclosed in Pennsylvania real estate transactions. In commercial buildings, an asbestos operations and maintenance (O&M) plan is often in place to manage intact ACM.
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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.
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.
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