Real Estate Licensing Maryland-Real-Estate-Salesperson Exam - Topic 7 Question 11 Discussion

Comprehensive and Detailed Explanation From Exact Extract of Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course:

The Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), enacted in 1980 and commonly known as ''Superfund,'' authorizes the Environmental Protection Agency (EPA) to identify and clean up sites contaminated with hazardous substances.

CERCLA also establishes liability for potentially responsible parties (PRPs)---including current and past owners, operators, and those who arranged for disposal of hazardous substances.

Maryland's pre-licensing course covers CERCLA as a federal regulation that affects real estate transactions involving contaminated properties, as buyers and sellers must be aware of any cleanup responsibilities before transfer.

Maryland 60-Hour Principles and Practices of Real Estate Pre-Licensing Course -- ''Environmental Issues and Disclosures'' Module

Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (42 U.S.C. 9601 et seq.).