During November 2020, the Asbestos Abatement Regulations were published. These regulations exclusively deal with the presence of asbestos in the workplace, where an employee might be exposed to the substance. It does not refer to residential property at all.
The regulations state that an employer must appoint a competent person to draw up an inventory of all identifiable asbestos on the premises, to be reviewed every two years.
This inventory will be of special relevance to property practitioners who deal with commercial and industrial properties, as the regulations oblige an owner who is in possession of such an inventory of asbestos, to provide this to the new owner, upon transfer of ownership.
Residential property owners with homes which do happen to have asbestos roofing, are not under any obligation to start replacing their roofing unless it is used as a workplace where an employee is likely to be exposed to the asbestos, as the regulations are moot about it.
To be safe, we advise that property owners who do have asbestos roofing, to do the necessary inventory and provide same to prospective purchasers as part of the property condition report, to prevent later disputes between the parties. Kindly contact JJR Inc. to assist your seller with the correct advice.