Innocent Landowner Programs and Their Effects on Environmental Risk and Property Value Impacts

摘要

This edition of "Environment and the Appraiser" examines the growing use of state programs that protect owners or purchasers of properties that may be impacted by environmental contamination. These parties may be considered "innocent landowners" under many state laws if they meet certain requirements related to the contamination source and other factors. By participating in such programs, landowners and/or prospective purchasers are relieved of certain future liabilities related to the contamination and its remediation under applicable state standards. As will be seen, this reduces environmental risk and potentially adverse effects on property values.