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The United States Environmental Protection
Agency has issued new regulations for Phase I Environmental Site
Assessments (ESA). The revised rule was published in the Federal
Register on November 1, 2005 and goes into effect on November 1, 2006.
Phase I ESAs must now comply with the "All Appropriate Inquiry" rule to
qualify for the Innocent Landowner Defense or Contiguous Landowner
Defense.
For more information:
Information from U.S. EPA
Article: For Transactions Closing on or After November 1, 2006: New "All
Appropriate Inquiry" Rule for Environmental Due Diligence Requires Use
of New Standard
Contact us for more information.
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