The Alphabet Soup of Ohio Due Diligence – AAI/ASTM/BFPP/VAP
July 7, 2021 @ 3:00 pm - 4:00 pm
It is important to understand how due diligence can vary from project to project and how it can be used to manage the risks associated with real estate transactions. Environmental due diligence is accomplished by various real estate transactions, each with a different and specific purpose in mind. Understanding what environmental due diligence is and the different types that can help manage and/or reduce your risk and benefit all sides of the negation table. This presentation will provide the reasons behind due diligence, detail its requirements, and discuss how it can help reduce your risk.
This webinar will provide an overview of the EPA All Appropriate Inquiries (AAI) Rule, the American Society for Testing and Materials (ASTM) Standard E1527-13 (Standard Practice for Environmental Site Assessments), Ohio EPA Voluntary Action Program (VAP), and the requirements and obligations that you must meet to qualify and maintain status as a bona-fide prospective purchaser (BFPP) and how that status now offers you state-level CERCLA liability protections for the purchase of a contaminated commercial or industrial property.