
John M. Scagnelli
Partner
201-896-4100 jscagnelli@sh-law.comFirm Insights
Author: John M. Scagnelli
Date: April 4, 2014
Partner
201-896-4100 jscagnelli@sh-law.comThe Environmental Protection Agency (“EPA”) promulgated its standards for “All Appropriate Inquiries” when it comes to buying real estate with the intent of defining the level of environmental due diligence required to provide the buyer of the property protection under CERCLA’s “innocent purchaser” defense. The criteria for satisfying the innocent landowner defense are set forth in 42 U.S.C. §§ 9607(b)(3) and 9601(35)(B) and 40 CFR 312.20.
The EPA published a new revision of the All Appropriate Inquiries rule, which became effective December 30, 2013. The revision provides parties purchasing real estate property that is potentially contaminated with the option of using the ASTM E1527-13 standard when conducting environmental due diligence. However, the rule does not mandate that purchasing parties use this standard. They have the option of continuing to use the existing ASTM E1527-05 standard.
Some of the more significant changes in the new ASTM E1527-13 standard are:
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