Environmental

CERCLA

CERCLA, the Comprehensive Environmental Response, Compensation, and Liability Act, commonly called Superfund, gives the federal government authority to respond to releases or threatened releases of hazardous substances.

Why it matters

CERCLA can make current owners liable for cleanup even when they did not cause the contamination. Buyers use all appropriate inquiries to qualify for defenses. This is the main legal reason lenders and buyers order Phase I reports.

Source: epa.gov

Where we discuss it

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