Tag Archives: bona fide prospective purchaser

A Lesson Learned – Important considerations for your commercial real estate due diligence checklist

Two commercial property owners find themselves responsible for decades-old environmental contamination because they failed to conduct proper environmental due diligence before their purchase and they bought short-tail, claims-made insurance policies with a claims-in-process exclusion that did not offer any protection against long-tail environmental claims. Under federal and state environmental laws, people who buy a contaminated … Continue Reading

Indiana Brownfields Updates Forms for Compliance with AAI

The Indiana Brownfields Program (“IBP”) has updated forms related to obtaining a Comfort Letter or Site Status Letter for brownfields sites in Indiana. IBP did so in order to emphasize that the trigger for the 180-day update (and the one-year shelf life for Phase I reports) runs from the earliest date upon which required information … Continue Reading

Do ASTM Standards Matter?

An environmental consultant recently asked me to explain the relationship between ASTM standards regarding environmental due diligence and federal and state law. I invite you to read my recent blog post on Commonground.com for an explanation on this matter. … Continue Reading