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Article: EPA's New All Appropriate Inquiry Rule Makes Important Changes in Due Diligence on Contaminated Properties for Prospective Purchasers.(Small Business Liability Relief and Brownfields Revitalization Act)
- Article from:
- Mondaq Business Briefing
- Article date:
- February 28, 2006
CopyrightCOPYRIGHT 2006 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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This update aims to inform prospective purchasers of properties challenged by real or threatened environmental contamination of new opportunities and obligations with regard to pre-purchase due diligence examination of the subject properties.
In January 2002, President George W. Bush signed into law the "Small Business Liability Relief and Brownfields Revitalization Act" ("BRA"). Among other important provisions, the BRA amended the Comprehensive Environmental Response, Compensation, and Liability Act ("CERCLA" or "Superfund," 42 U.S.C. s.s. 9601 et seq.) to provide protection against liability under that statute to prospective purchasers of properties with ...