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A Transaction Screen May Be Preferable To A Phase I Environmental Site Assessment PDF Print E-mail

October 2001

In the coming days Congress is expected to enact, for the first time, statutory authority clarifying what deems a person to have undertaken all appropriate inquiry to satisfy a defense to Superfund (CERCLA) liability. A “Transaction Screen” may well satisfy the appropriate inquiry standard.

Transaction Screen is a term of art for a procedure intended for use on a voluntary basis by individuals who wish to assess the environmental condition of commercial real estate with respect to the range of contaminants within the scope of Superfund liability and petroleum products.

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