Phase I Environmental Site Assessment ASTM Standards an Overview
Phase I Environmental Site Assessment ASTM Standards that classifies recognized environmental conditions (RECs) on reagent l property to estimate environmental risks linked to the property. It is also called "Phase I ESA" and is an integral part of the real estate due diligence process. Phase I process is essential to make sure you know the property's actual value and assure there is no soil or groundwater contamination from previous use or from neighboring sites that may be impacting the property's value or limiting its use due to regulatory-mandated cleanup, or in some. The current (E1527-13) version of the ASTM Phase I standard, used by EPA and the states to determine whether sufficient environmental due diligence phase 1 has been conducted for a purchaser to utilize CERCLA defenses, is scheduled to be updated this year. While the revised standard has not been finalized, several possible changes of potential significance have been proposed. The critical areas o...