Environmental
The 'innocent landowner' defense under CERCLA does NOT protect a buyer who:
AConducted a Phase I ESA before purchase
BPurchased with knowledge of contamination or who did not perform appropriate inquiry✓ Correct
CInherited contaminated property involuntarily
DAcquired through foreclosure with prior Phase I review
Explanation
The innocent landowner defense requires that the buyer (1) had no knowledge of contamination at the time of purchase and (2) conducted all appropriate inquiries (Phase I ESA). Purchasing with knowledge or without adequate inquiry defeats the defense.
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Key Terms to Know
Option Contract
A contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
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