NE 3.0 hours Disclosure Is Not A Secret - Course Syllabus


Course Syllabus:

3.0 Elective Hours

There are many types of environmental issues that require disclosure such as mold, asbestos, radon, and meth labs.

In recent years, the issue of mold has caused a near panic in both the healthcare and homeowner's insurance fields. Essentially, molds are simple microscopic organisms that thrive in areas of high humidity. Having discovered a mold problem, a homeowner needs to take steps to stop the problem and, if necessary, repair any damage. However, for a homeowner selling his home, several legal duties may arise. Since an agent is under no legal obligation to inspect for mold, the licensee should not even attempt to look for problems. That is the job of a qualified home inspector. However, if the seller's agent does discover damage, he will be under a duty to see that all facts are disclosed to a prospective purchaser.

Asbestos has become a legal nightmare for many property owners. Asbestos is a known cause of lung cancer and a rare cancer known as mesothelioma. To make matters worse, it is still found in many homes, office buildings, and factories. There are two ways of dealing with hazardous asbestos: removal and/or encapsulation, which involves leaving the asbestos in place, but treating the material with a sealant so that fibers are not released.

Radon is a colorless, tasteless, and odorless gas that results from the natural breakdown of uranium and radium in soil, water, and rock. No level of radon is considered safe. Lung cancer due to inhalation of radon decay products is the only known risk associated with radon. The EPA estimates that 1 out of every 15 homes in the United States has radon levels more than EPA guidelines.

Former meth houses are a growing concern for the real estate industry. Occupancy of a home contaminated with high levels of methamphetamine can rapidly lead to severe health complications, especially in young children. Currently, only 32 states in the U.S. have laws regulating the cleanup of former methamphetamine production sites, 22 of which contain requirements or recommendations for acceptable quantitative levels of contamination after remediation. The other 10 states have what is considered a qualitative standard for cleanup.

The sellers will have to disclose any knowledge of environmental hazards on the property regarding such substances as lead, asbestos, mold, meth, and radon. Our Disclosure Is Not A Secret course reviews the different environmental issues that require disclosure and explains potential problems.