Environmental
In Michigan, 'due diligence' for commercial property acquisition typically includes a Phase I Environmental Site Assessment (ESA) to:
ATest all soil and groundwater on the property
BIdentify recognized environmental conditions (RECs) through records review and site inspection✓ Correct
CObtain EGLE approval for the purchase
DSatisfy CERCLA innocent landowner defense requirements
Explanation
A Phase I ESA identifies Recognized Environmental Conditions (RECs) through historical records review, regulatory database search, site inspection, and interviews. It does not include sampling (that's Phase II).
Related Michigan Environmental Questions
- Michigan's Environmental Response Act (MERA) governs:
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