For nearly two years, a task force comprised of various environmental professionals has been working on revisions to the American Society for Testing and Materials (ASTM) International Phase I Environmental Site Assessment (Phase I) Standard E1527-13, which is used by prospective purchasers in real estate acquisitions in order to satisfy the All Appropriate Inquiries (AAI) requirements under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA).
Purchasers must meet the AAI requirements in order to establish the innocent landowner, contiguous property owner, or bona fide …
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