Ill. Follows Vapor Intrusion Regulation Trend

Law360, New York (July 3, 2013, 12:24 PM EDT) -- Most commercial or industrial buyers of contaminated property, and virtually all lenders at contaminated sites, require sellers to either obtain a no-further-remediation letter (NFR) themselves, place money in escrow in an amount necessary to pay for the projected future cost of obtaining an NFR or reduce the sales price based on the projected NFR cost.

The NFR is a document in which government agencies such as the Illinois Environmental Protection Agency confirm that no additional remediation is necessary for the protection of human health or the...
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