Asbestos, but limited to joint compound

[Mike Nelson]

There is a multi-unit building on the market built in 1969.  The building has been tested for asbestos, and it was found to exist in the joint compound, not in the drywall itself.    My understanding is the asbestos particles could possibly be released if, say a nail was pounded into he wall to hang a picture, or someone cuts into the wall.  Does this present any kind of health hazard or potential legal problem?  Is the perception of this type of hazard worse than the reality?  Another question is, "was asbestos commonly used in construction during this time"?