Contamination refers to the presence of harmful substances in real estate properties, which can significantly impact property value, usage restrictions, and potential health hazards. Identifying and addressing contamination are critical steps in real estate transactions, environmental assessments, and property development.
A comprehensive study of land to identify any unique environmental attributes, evaluate potential impacts, and determine the need for further action such as an Environmental Impact Statement (EIS).
PERC, or perchloroethylene, also known as tetrachloroethylene, is a chemical commonly used in dry cleaning that is highly toxic and can easily contaminate groundwater if it seeps through the ground.
The Superfund Amendments and Reauthorization Act (SARA) is a law that confirmed the continued existence of the Superfund program and strengthened the enforcement of hazardous waste site remediation under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA).
Toxicity refers to the degree to which a substance can cause harm to an organism. In the real estate context, it often pertains to the contamination levels in properties, affecting their habitability and market value.
