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On November 1, 2006, the Environmental Protection Agency's (EPA's) final rule for conducting "all appropriate inquiries" ("AAI") when purchasing real property becomes mandatory. Many clients are asking what they need to do to implement these new requirements. This article sets forth a practical approach to implementing these new guidelines. It also evaluates some of the due diligence questions that remain unanswered and assesses the impacts that this new rule will have on CERCLA litigation.
Albert M. Cohen is an environmental partner at Loeb & Loeb LLP in Los Angeles. He has practiced in the Superfund area for over 20 years. He routinely assists clients with transactions involving environmentally impacted properties, advises clients regarding "all appropriate inquiry" and has litigated cases involving environmental due diligence.
Reproduced with permission from Toxics Law Reporter, Vol. 21, No. 44 (Nov. 9, 2006). Copyright 2006 by The Bureau of National Affairs, Inc. (1.800.372.1033) http://www.bna.com