FREE COMPLETE STUDY MATERIAL NOTES FOR IBBI EXAMINATION
E-BOOK
ONLINE BATCH STUDY MATERIAL-50 HRS EDUCATIONAL COURSE UNDER RULE 5(1) READ WITH RULE 12(2)(a) FOR REGISTRATION AS VALUERS UNDER THE BANNER OF CEV IAF RVO
UNIT-4
CHAPTER-11
ENVIRONMENT AND VALUATION
ENVIRONMENTAL ISSUES IN VALUATION & REAL ESTATE
DIRECT RELATION
Environmental issues are such that routinely arise in all types of real estate. The most common environmental concern with regards to the real estate transactions is the land contamination. This may arise or originate either from the activities of the owner of the land, either present or past owner, collectively known as on-site sources OR it may originate from the off-site sources. Since the site owner’s liability may vary depending on the context in which the contamination arose, locating its source is important in order to quantify the potential risk and locate responsibility. Moreover, such issues may become even more complicated if there are drinking water supply wells on or near the property.
Another Environmental concern is the Mold Contamination, which basically occurs in buildings which are poorly constructed or which lack adequate ventilation. Due to air circulation, different types of mold might breed in a building basically on walls. In normal circumstances, the mold contains moisture which results in physical damage to the building or the structure but there are certain cases wherein the molds are toxic in nature which results into medical conditions. In the recent past, there are certain cases/lawsuits wherein the injured party succeeded in securing substantial personal injury which occurred due to the toxic molds. From past few years, the insurance industry is also paying a lot of attention towards the claims related to molds which includes both, damage to the property as well as the personal injury. Nowadays, the presence of molds is becoming a very important issue for all those who own either a residential ……………………….READ MORE
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