Minimizing Landowner Liability When Buying Contaminated Property

By: Peter Duchesneau
– Real Estate Forum

On December 30, 2013, the US Environmental Protection Agency adopted ASTM E1527-13 as the new Phase I environmental assessment standard, clarifying the requirements for performing all appropriate inquiries. This is the first of several requirements for buyers of potentially contaminated property to establish protections from cleanup liability under the U.S. Comprehensive Environmental Response, Compensation and Liability Act. Buyers of property should  not only follow this Phase I standard, but should also be mindful of other requirements for establishing landowner liability protections and the limitations of such protections.

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