June 25, 2019

Buying Contaminated Property Without Liability—Making Sure Your Client is “Bona Fide”

Matthew E. Cohn

Buyers of real estate and their professional advisors are all too familiar with the Phase I Environmental Site Assessment (ESA). Born out of the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), 42 U.S.C. § 9601, et seq. (commonly known as the Superfund law), the Phase I ESA is a report prepared during a potential buyer’s due diligence on a property.

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