Overcoming Environmental Obstacles To Property Deals

Law360, New York (August 18, 2010, 12:17 PM EDT) -- Environmental concerns should never be the cause of a failed real estate transaction (including refinancing). In other words, developers need not walk away from opportunities and associated revenues purely for environmental reasons.

Gone are the days when it makes sense to rely solely on the All Appropriate Inquiry Standard and a well-performed Phase I Environmental Site Assessment (Phase I) to provide protection against environmental liability.

First, a well done Phase I only protects you in that it makes up one element of the “Innocent Purchaser” defense...
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