Effective February 13, 2023, a new rule issued by the US Environmental Protection Agency (EPA) goes into effect that amends the All Appropriate Inquiries Rule (AAI rule 40 CFR Part 312) to reference ASTM International’s E1527-21 “Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process.” The rule establishes a 1-year sunset period …
Due Diligence – Protecting your Liability
Proactive due diligence can positively impact real estate dealings. Knowledge is power. Understanding data, risks, environmental controls and liability issues offer all parties a more efficient path towards timely sales transactions. The Basics A Phase I ESA studies into past and current uses of a property and is a non-intrusive way to evaluate the potential …