Environmental
In NJ, a buyer of a commercial property with a known contamination issue should be aware that under CERCLA's 'bona fide prospective purchaser' (BFPP) defense, they may be protected from CERCLA liability if they:
ASimply don't ask about contamination
BPerform all appropriate inquiries before purchase, do not impede the response action, and comply with required land use restrictions✓ Correct
CPurchase the property at a discount
DObtain title insurance
Explanation
CERCLA's BFPP defense protects a buyer who: performed AAI (Phase I/II ESA) before purchase, acquired the property after January 11, 2002, and continues to comply with applicable conditions (maintaining institutional controls, not impeding cleanup, paying necessary response costs).
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