Does a Phase I Protect the Commercial Land Buyer Under NJ Innocent Purchaser Protection ?

Phase I's that although meet ASTM standards may not completely protect a commercial land buyer under the New Jersey Spill Act. Additional Due Diligence such as a Phase II may provide additional protection to the property buyer.
 
EAST BRUNSWICK, N.J. - Dec. 30, 2019 - PRLog -- Purchasing  commercial property for Industrial Development or Brownfields Redevelopment can be challenging and expensive. A Environmental Phase I provides  limited protection under the NJ Spill Act and Innocent Purchaser Defense.  An Environmental  Phase II investigates site soil & ground water for contamination. If the property has had remediation completed in the past and received  Remedial Outcome Letter or a "No Further Action" Letter the Environmental Phase II will determine if the property still meets the NJDEP's Current Soil and Remediation Standards. Not performing a Limited Phase II Investigation can make the new property responsible for any additional clean-up requirements once the  property is purchased and the deed transferred. Also it is important if the property had historical manufacturing or industrial uses that the property transfer is in compliance with NJ Industrial Site Recovery Act
( ISRA).  Environmental Systems International is a full service environmental Investigation and Remediation company with over 25 years experience providing Phase I and Site Investigation services.
To obtain additional information contact Environmental Systems at 732-892-8707 or visit our website at www.allenvirosystem.com

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Tags:Phase I Environmental
Industry:Real Estate
Location:East Brunswick - New Jersey - United States
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