ASTM E1528-22

SIGNIFICANCE AND USE 4.1 Uses—This practice sets forth a procedure for conducting limited environmental due diligence. This practice is intended for use on a voluntary basis by parties who wish to assess the environmental condition of a subject property where a Phase I Environmental Site Assessment is, initially, deemed to be unnecessary by the user and the parties do not seek CERCLA LLPs. This practice is intended primarily as a commercially prudent or reasonable approach to conducting an inquiry designed to identify potential environmental concerns in connection with a subject property. 4.2 Clarifications on Use: 4.2.1 Use Not Intended for CERCLA Liability Protection—This document is not intended to permit a user to satisfy CERCLA LLPs, that is, the practices that constitute all appropriate inquiries into the previous ownership and uses of the subject property consistent with “generally accepted good commercial and customary standards and practices” as defined in 42 U.S.C. §9601(35)(B). 4.2.2 Transaction Screen Does Not Identify Recognized Environmental Conditions—This practice does not define a scope of assessment sufficient to identify recognized environmental conditions as defined in Practice E1527 and Practice E2247. 4.2.3 Residential Tenants/Purchasers and Others—Although this practice is not intended for residential purposes, it may be used at the user’s discretion for residential tenants of multifamily residential buildings, tenants of single-family homes or other residential real estate, or purchasers of dwellings for residential use to conduct a transaction screen in connection with these transactions. 4.2.4 Site-Specific—This practice is site-specific in that it relates to assessment of environmental conditions at a subject property. Consequently, this practice does not address many additional issues raised in transactions such as purchases of business entities, or interests therein, or of their assets, that may well involve environmental liabilities pertaini... SCOPE 1.1 Purpose—The purpose of this practice is to define a good practice in the United States of America for conducting a transaction screen2 for a subject property where the user wishes to conduct limited environmental due diligence (that is, less than a Phase I Environmental Site Assessment). If the driving force behind the environmental due diligence is a desire to qualify for one of the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) Landowner Liability Protections (LLPs), this practice should not be applied. Instead, the ASTM E1527: Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process or ASTM E2247: Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process for Forestland or Rural Property may be used. 1.1.1 This practice will not satisfy the requirement to conduct all appropriate inquiries into the previous ownership and uses of the subject property consistent with “generally accepted good commercial and customary standards and practices” as defined in 42 U.S.C. §9601(35)(B) to qualify for one of the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) Landowner Liability Protections (LLPs). Users who desire to conduct environmental due diligence to qualify for one of the CERCLA LLPs should conduct assessment activities in conformity with “Standards and Practices for All Appropriate Inquiries,” 40 C.F.R. Part 312; ASTM E1527: Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process or ASTM E2247: Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process for Forestland or Rural Property. 1.2 An evaluation of business environmental risk associated with a parcel of commercial real estate may necessitate investigation beyond that identified in this practice. See Sections 1.4 and 9. 1.2...