Involved in the detoxification of xenobiotics and in the activation of ester and amide prodrugs. Involved in the extracellular metabolism of lung surfactant. a carboxylic ester + H2O = a carboxylate + an alcohol + H(+) Microsomal membrane, lumen of endoplasmic reticulum. Expressed in lung, kidney and liver. Belongs to the type-B carboxylesterase/lipase family. Sequencing errors.