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NE Real Estate
NE Real Estate Unit 21
| Term | Definition |
|---|---|
| risk management | evaluation and selection of appropriate property and other insurance |
| routine maintenance | day to day duties |
| surety bonds | a contract performed as stated; agreement by insurance or bonding company to be responsible for certain possible defaults, debts or obligations |
| carbon monoxide (CO) | colorless, odorless gas occurred by fuel combustion that can result in death |
| tenant improvements | alterations to the interior of building to meet the functional demands of the tenant |
| worker's compensation acts | state laws requires employers to obtain insurance coverage to protect employees who get injured on the job |
| asbestos | used in insulation causes respiratory diseases |
| brownfields | defunct, derelict, or abandoned commercial or industrial sites |
| chlorofluoro-carbons (CFS) | nontoxic, nonflammable chemicals containing atoms of carbon, chlorine and fluorine |
| comprehensive environmental response, compensation and liability act (CERCLA) | bring legal action against responsible parties forcing them to clean up toxic |
| encapsulation | a method of controlling environmental contamination by sealing off a dangerous substance |
| environmental impact statement (EIS) | statement that details the impact a project will have on the environment |
| environment site assessment (ESA) | evaluation of property to show that due care was exercised in the determination of environmental improvements |
| formaldehyde | air pollutant, colorless chemical used to manufacture building materials & household products |
| ground water | water that exists under the earths surface w/in the tiny spaces or crevice's in geological formation |
| hydraulic fracturing (fracking) | process used to extract natural gas from the deep layers of rock where its embedded |
| lead | used as a pigment and drying agent in alkyd oil-based paint in most homes before 1978 |
| lead-based paint hazard reduction act (LBPHRA) | disclosure of the presence of any hazards to potential buyers or renters |
| mold | form of fungus |
| polychlorinated biphenyls (PCBs) | insulating material in dielectric oil |
| radon | naturally occurring gas |
| small business liability relief and brownfields revitalization act | law provides funds to assess and clean up brownfields and provides tax incentives to enhancing state and tribal response programs |
| superfund amendments and reauthorization act (SARA) | cleanup standards for contaminated sites |
| underground storage tanks (USTs) | petroleum products are used or were gas stations and auto repairs shops |
Created by:
SevitaM
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