Ask the lawyer who handles this transaction for you. She/he will probably advise you for nothing.

I doubt you’d be obliged to bring such a thing forward. The law requires you to disclose material, latent defects, which exist and that you’re aware of. That would be an existing problem, which you know exists, not readily discoverable by a reasonably prudent inspection, which could pose a health risk or danger.

in the near future i plan to get this stuff professionally removed. when the time comes to sell the home, do i still have to reveal that at some point of time it did contain this stuff.

I’m afraid I don’t know much more than I’ve shared here and the previously written article, linked above. I would try W.R. Grace for the answers you’re looking for.

That said, your circumstances sound a bit scary to me. It’s getting out into your child’s room and in the yard? That sounds dangerous. Have you had the vermiculite tested? Have you considered proceeding with a remediation to remove this potential health threat? Please consider talking to someone who knows about this stuff and how to handle it. I’ve heard it costs about $5 per square foot of attic space.

Best wishes.

I went through the process and put my claim in on time and have not heard anything. My concern is that we will probably want to sell in the next few years and do not want to run into any problems. Do you know what Canadians were entitled to and if there is any government aid for removal? We are in Ontario. Thanks! With the new proof of cause of MS I am no longer concerned that this had anything to do with my son’s ms – his upstairs bedroom always had vermiculite coming out of the ceiling. It is also getting out of the attic somehow since our yard is full of it! We have not attempted removal as advised.

jc

“If people need peace of mind, get it tested. Get proof that it is that bad ass Libby Montana stuff before considering remediated.”

I agree completely and that’s pretty much what I suggested above.

Peter,

I’m sure I’m reading too much into the $2B settlement and the 130,000 personal injury lawsuits? You’re probably right that it’s not worth worrying about.

Bottom line? I expect Health Canada’s recommendations are probably valid. Just the same, there’s not much question in my mind that the presence of asbestos stigmatizes a property. Given the choice between two similar properties, one with asbestos and one without, I suspect most purchasers would select the one that doesn’t have it. Over the past few years I’ve seen a handful of deals go sideways because of it.

I also think that in 20 or 30 years we will look somewhat silly and hypocritical worrying about asbestos while we blast our bodies with cell-phone radiation and wi-fi and absorb toxins from plastics.

If people need peace of mind, get it tested. Get proof that it is that bad ass Libby Montana stuff before considering remediated.

As for me, I against remediation. I’ve done the research, I’ve talked to people in the know that say the contractors don’t really do it right and still leave stuff behind. “Safest thing to do it is not to disturb it or to enclose it”.

Note: My quote is from a non-government workplace environmental assessment inspector. Safety resporator for Zonolite can be bought from Acklands. Namebrand: North, 7700 Series, N95 filter (purple)

Canadians were definitely eligible for some compensation through this settlement. We helped a couple purchase a home this summer who had applied for funding for removal of vermiculite in their previous home (Winnipeg).

I have not encountered, or even heard of a “Chinese drywall” incident here. Have you?

It’s been a huge joke for W.R. Grace, the company that mined asbestos laden vermiculite in Libby. At the time they filed for bankruptcy protection back in 2001 they faced nearly 130,000 personal injury lawsuits from people who appeared to be less than amused. In recent years the company agreed to a $1.8B to $3B class action settlement related to claims for “diminution of property value, cost of abatement or removal and other economic losses associated with the product.” That doesn’t include the cost of the personal injury lawsuits.