Comprehensive Environmental Response, Compensation, and Liability Act
All Appropriate Inquiry
Landowner Liability Protection
Recognized Environmental Condition – ref
American Society for Testing Materials – International – Produced the Phase I site assessment standard in currently in use. 2013 revision is expected this year.
Superfund Amendments Reauthorization Act 1986 – first vague outline of how purchasers or landowners could qualify for the “Innocent Landowners Defense,” avoiding CERCLA Liability by stating that AAI has been thoroughly performed.
Chapter 25 Environmental Due Dilligence
1993 Initiative of EPA – adressed idle and underused properties with lower levels of contamination. Amendments of 2002 provided specific guidelines on how to meet the certain requirements. Also introduced protections for Bona-fide Prospective Purchaser and Contiguous Landowners…”a new rule which established clear standards for the Environmental Due Diligence industry”
Ch 5 Env. Due Diligence
EPA acknowledges ASTM AAI Standard 2006
2006 – EPA recognizes specific requirements that must be met for a defensible AAI. Makes the Environmental Due Diligence Process more standardized and ultimately defensible.
Small Business Liability Relief and Brownfield Revitalization Act 2002 – CERCLA amendment
Clarified the Innocent Landowner Defense, and legal statuses for buyers – Bona-fide prospective purchaser and Contiguous property owner.