Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
38% - Moderately


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

Definition of asbestos (asb)

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.

Related Terms and Acronyms:

  • 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.

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