Environmental
In South Dakota, when a seller discloses a known environmental condition (like a former leaking UST), the buyer's best protection is to:
AAccept the seller's assurance that cleanup is complete
BNegotiate an environmental contingency allowing for investigation and price adjustment based on findings✓ Correct
CAsk the SDREC to certify the cleanup was adequate
DProceed with the purchase since disclosure eliminates all liability
Explanation
When an environmental condition is disclosed, the buyer should negotiate an environmental contingency allowing them to conduct Phase II ESA and, if contamination is confirmed, adjust the price, require remediation, or exit the contract.
Related South Dakota Environmental Questions
- The National Environmental Policy Act (NEPA) requires federal agencies to prepare environmental impact statements (EIS) for:
- In South Dakota, a 'soil gas survey' on a property is most useful for identifying:
- Phase I Environmental Site Assessment (ESA) of a South Dakota property involves:
- Naturally occurring asbestos has been found in certain South Dakota soils. The primary health risk from asbestos exposure is:
- South Dakota's primary agency responsible for environmental regulation of real property, including brownfield cleanup, is:
- In South Dakota, a property's proximity to which type of facility would most likely require a Phase I Environmental Site Assessment?
- In South Dakota, a real estate agent who suspects the presence of a wetland on a property they are listing should:
- In South Dakota, which type of environmental insurance protects a property owner from unknown pre-existing contamination discovered after purchase?
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