New EPA "All Appropriate Inquiry" Regulations
On November 1, 2006, the United States Environmental Protection Agency’s “All Appropriate Inquiry (or “AAI”) regulations became effective. The AAI regulations will have an immediate and direct impact on virtually all transactions involving the sale of commercial real property. In particular, the AAI regulations will result in significant changes to the form and content of Phase I Environmental Site Assessments (“Phase I’s”).
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