Real Property 2 Quiz 6

On the closing date, the parties ​ (a)   the purchase contract, and ownership of the property is transferred to the ​ (b)   . In most jurisdictions ​ (c)   is officially transferred when a deed from the ​ (d)   is delivered to the buyer.

• buyer
• consummate
• ownership
• seller

If it is a residential sale you don’t need an environmental study. However an environmental study is required if you are building a subdivision.

• True

• False

If it is a commercial sale, you ALWAYS get an ​ (a)   . The reason you get an environmental report is if you bought the property and it has an environmental problem; you bought the property and the problem. I am now liable for the environmental problem and so is the previous owner.

→if I don’t pay the ​ (b)   for the property and the bank ​ (c)   then the bank is liable for the environmental problem. So everytime you get a commercial loan the bank will require a Phase 1 Environmental Study and if there are problems then a Phase 2 Environmental Study will be required

• environmental report
• loan
• forecloses

CERCLA focuses on hazardous waste clean up

• True

• False

Resource Conservation and Recovery Act (RCRA) page 1336 established a federal regulatory program that manages hazardous waste from its creation to its disposal.

• True

• False

RCRA focuses on prevention of endangering the public health and the environment from present and future hazardous waste disposal

• True

• False

There are 2 methods the fed government under CERCLA can clean up contaminated land: Choose all that apply.

• 1. The EPA can order potentially responsible parties (PRP) to pay the costs to pay the costs for a hazardous waste site cleanup

• 1. The EPA can itself undertake the cleanup and pay the costs out of Super fund, by suing the PRP for reimbursement

• The EPA can make the state clean up the hazardous waste site

• The EPA can make the businesses in the area pool together resources to clean up the hazardous waste site

Who are PRP (potentially responsible parties)? Choose all that apply.

• any owner or operator (the people who might be liable), of a vessel, transport, or facility where the hazardous waste was disposed

• any person who entered into an agreement or contract to arrange to have the hazardous waste disposed or transported

• any person who accepts the hazardous waste

• Any business near the hazardous waste site

• Under RCRA each state enacted an environmental agency and in Alabama we have ADEM (AL Dept. of Environmental Management)

• True

• False

All zoning is local

• True

• False