EPA Explains CERCLA Liability for Prospective Purchasers Under New Brownfields Law

摘要

For the first time, EPA guidance ex-plains that a party may purchase property with knowledge of contamination and not acquire liability under CERCLA―as long as that party meets the new bona fide prospective purchasers (BFPP) criteria. EPA's memorandum entitled Bona Fide Prospective Purchasers and the New Amendments to CERCLA identifies the new BFPP criteria and describes EPA's new approach to real estate transactions for brown-field properties. The memorandum was directed to EPA Superfund Senior Policy Managers and Regional Counsels. EPA emphasizes that the memorandum is guidance, and does not impose legal obligations.