Environmental assessments: Essentials of historical and regulatory record reviews

Abstract

Past and present use of property may create environmental liabilities that are unacceptable to lending institutions, sellers, and buyers. Walkover surveys of the property may not clearly identify all potential environmental hazards. A review of historical and regulatory records, however, may provide information on activities that necessitate a detailed physical examination (e.g., soil borings) of the property. A thorough historical and regulatory review is an essential task of any due diligence assessment. Failure to obtain and examine records related to the site can result in an expensive learning experience for the lender, buyer, seller, and consulting firm conducting the assessment. This paper discusses historical and regulatory records research for environmental assessments.

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To whom correspondence should be addressed.