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9
Dec
2021

Phase I Environmental Site Assessment – updated standard requirements

Written by: Guy Jeffress

Phase I Environmental Site Assessment – updated standard requirements

On November 1, 2021, ASTM International (formerly the American Society for Testing and Materials) approved revisions to the ASTM 1527 standard, more commonly known as a Phase I Environmental Site Assessment Report. Once the new standard is adopted by the Environmental Protection Agency (EPA), purchasers of real estate will need to comply with the updated requirements.

Under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), a property owner risks strict liability for environmental contamination caused by prior owners. However, CERCLA provides defenses for a current owner if the current owner satisfies certain requirements, i.e., the All Appropriate Inquiries (AAI) requirement. To qualify for an AAI defense, a prospective owner, prior to the purchase, must make reasonable inquiries to determine if a property has existing contamination, this includes conducting a Phase I environmental site assessment undertaken in accordance with the ASTM 1527 standard.

Potential purchasers of commercial real property should ensure that environmental professionals are conducting Phase I Reports according to the required standards, i.e., ASTM 1527-13 or ASTM 1527-21. Likewise, lenders funding acquisition loans should keep an eye open for the upcoming change. Adoption of the new standard, ASTM 1527-21, by the EPA is expected to occur in December 2021. There should be a “phase-out” or transition period during which both standards may be allowed. Note that as a result of the new standard Phase I reports may become more costly and time-consuming as environmental professionals get up to speed on the new requirements.

Additional information regarding the revised standard can be found on the ASTM website: https://newsroom.astm.org/astm-international-revises-standard-practice-environmental-site-assessments

Contact the attorneys at Vanderpool, Frostick & Nishanian, P.C., if you have any questions regarding the purchase and/or sale of commercial real estate.

This blog post is not intended to provide legal advice or substitute for the advice of legal counsel with respect to specific facts and situations. See disclaimer

20
Jul
2021

New Associate Joins VF&N

Tyler J. Blaser
Associate

Vanderpool, Frostick & Nishanian, P.C. is pleased to announce the addition of our newest associate Tyler J Blaser. His practice includes commercial real estate, business, and other complex financial transactions.

Prior to joining VF&N, Mr. Blaser worked as a business transaction and commercial litigation associate for Surovell Isaacs & Levy PLC and as a clerk for the Honorable Carroll A. Weimer, Jr., the Chief Judge of the Prince William County Circuit Court. He has also clerked with the Office of the County Attorney in Prince William County and a criminal defense firm. His legal background was prefaced by his work for an IT firm as a Business Development Manager in Tysons Corner.

 

 

30
Mar
2020

Virtual Meetings and Consultations Now Available

In efforts to continue to serve our clients in a safe and CDC compliant manner, we are now offering virtual meetings and consultations.

If you are interested in scheduling a virtual consultation or meeting with your attorney, please call 703-369-4738 and one of our legal assistants will schedule a zoom appointment.