GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

Asbestos

Synonyms:	cancerous, fireproof, hazardous, toxic
Acronyms & abbreviations:	asb
Filed Under:	abbreviation, real-estate
Tags:	classifieds, property listing, realty

asbestos (asb): 1. A fire-resistant element that once was commonly used for insulation in buildings, but was discovered to cause health issues in the lungs. This material is no longer used and is typically removed from buildings when it is discovered.

Asbestos is known to cause lung cancer and is considered highly toxic.

If asbestos is discovered in older buildings, it is usually removed and reinsulated.

hazard Anything that poses a potential risk of injury or damage.
home inspection A thorough examination of a house's visible structural parts and systems, conducted before purchase.