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Conducting an All Appropriate Inquiry (AAI) Phase I Environmental Property Assessment (ESA) offers purchasers certain environmental liability protections. Many purchasers do not realize they may need to fulfill ongoing obligations to maintain these important liability protections. ASTM International recently published a Standard Guide for Identifying and Complying with Continuing Obligations, ASTM E 2790-11 (Guide). This Guide was developed by representatives of various industrial, lending, consulting, and governmental entities and provides a uniform procedure to better understand the ongoing obligations and risks associated with environmentally challenged properties.
Conducting an All Appropriate Inquiry (AAI) Phase I Environmental Property Assessment (ESA) offers purchasers certain environmental liability protections. Many purchasers do not realize they may need to fulfill ongoing obligations to maintain these important liability protections. ASTM International recently published a Standard Guide for Identifying and Complying with Continuing Obligations, ASTM E 2790-11 (Guide). This Guide was developed by representatives of various industrial, lending, consulting, and governmental entities and provides a uniform procedure to better understand the ongoing obligations and risks associated with environmentally challenged properties.
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