1. Modern Real Estate Practice in Illinois Eighth Edition Chapter 22: Environmental Issues and the Real Estate Transaction ©2014 Kaplan, Inc.

2. Environmental Issues Hazardous Substances –Asbestos –Lead-based paint and other lead hazards –Radon –Illinois Radon Awareness Act –Urea-formaldehyde –Carbon monoxide –Polychlorinated biphenyls –Chlorofluorocarbons –Mold

3. Environmental Issues - Lead-Based Paint Hazard Reduction Act Residential dwellings built before 1978 Landlords must disclose known information Sellers must disclose known information Buyers have up to ten days to conduct a risk assessment Licensees provide buyers and lessees with HUD pamphlet

4. Environmental Issues Groundwater Protection Underground Storage Tanks –MTBE Illinois -The Leaking Underground Storage Tank (LUST) program Waste Disposal Sites Brownfields –Small Business Liability Relief and Brownfields Revitalization Act

5. Environmental Protection Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) –Liability –PRPs Superfund Amendments and Reauthorization Act (SARA)

6. Liability of Real Estate Professionals Discovery of Environmental Hazards Environmental auditors (or environmental assessors)

7. Environmental Site Assessments Environmental Impact Statements Disclosure of Environmental Hazards