Environmental
An 'innocent landowner' defense under CERCLA requires that the buyer:
ASimply not know about any contamination
BConducted all appropriate inquiries (Phase I ESA) before purchase and had no reason to know of contamination✓ Correct
CPurchased the property before CERCLA was enacted
DObtained title insurance
Explanation
The innocent landowner defense under CERCLA requires that the buyer conducted 'all appropriate inquiry' (typically a Phase I ESA meeting ASTM standards) prior to purchase and had no reason to know of contamination.
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Key Terms to Know
Title Insurance
Insurance 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.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
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