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Commercial Landowner CERCLA Liability Protection - Understanding the Final EPA 'All Appropriate Inquiries' Rule and Revised ASTM Phase I (Paperback)
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Commercial Landowner CERCLA Liability Protection - Understanding the Final EPA 'All Appropriate Inquiries' Rule and Revised ASTM Phase I (Paperback)
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Effective November 2006, buyers of commercial real estate have new
liability protections against hazardous substances contamination on
their property-even if they know about it at the time of
purchase-provided they conduct all required research under the
Environmental Protection Agency's (EPA) new All Appropriate
Inquiries Final Rule. Commercial Landowner CERCLA Liability
Protection provides a comprehensive examination of the new EPA
Final Rule and compares the new EPA rule to the previous Phase I
All Appropriate Inquiry Standard Practice established by ASTM.
Prior to EPA's All Appropriate Inquiries Final Rule, the
well-established ASTM Phase I Standard Practice provided the only
guidance for conducting environmental site assessments for real
estate properties. Now, in conjunction with the EPA, ASTM has
revised its standard to conform to the new EPA Final Rule. In
addition to providing two new protections, the "Contiguous Property
Owner" and "Bona Fide Prospective Purchaser," the new All
Appropriate Inquiries Final Rule requires new protocols not
previously required by the ASTM standard, including interviewing
previous owners of the property; conducting a visual inspection of
adjoining properties; and reviewing local government records,
institutional and engineering controls, and environmental cleanup
liens. Commercial Landowner CERCLA Liability Protection provides
readers with an easy-to-use reference on such topics as the
regulatory background of the rule, benefits and incentives that
affect real estate buyers, components and requirements of the new
All Appropriate Inquiries Final Rule, requirements and guidelines
for conducting historical and government research on a property,
and distinctions between the EPA All Appropriate Inquiries Final
Rule and the ASTM Phase I Environmental Site Assessment.
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