Real Estate Professionals

 

EPA's guidance on vermiculite:

 Asbestos in Your Home publication.

EPA Fact Sheet on Vermiculite Insulation 

The presence of vermiculite attic insulation is a material fact*... A generally accepted definition of a material fact is one that is important enough that it would impact a party's decision to enter into a contract or would affect the party's decision about the contract terms. 

There may be instances, such as might occur in a real estate negotiation, where the parties agree as to who has the rights to the claim.  Absence such an agreement, the Trustee will resolve any dispute as equity may dictate. The trust strongly encourages the parties to be very clear as to who will pay for the removal and who has the right to make the claim.

Please take note that in instances where abatement expenses are paid for out of closing funds it will typically be necessary to provide the HUD documents to prove the amount of the cost and who paid them.

Real estate professionals are encouraged to stay abreast of their states disclosure requirements concerning vermiculite attic insulation to enable them to provide accurate and up-to-date advice to their clients.