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The United States Environmental Protection Agency ("EPA") adopted an updated standard of practice for Phase I Environmental Site Assessments on December 15, 2022. The updated standard...
EPA took final action to amend the Standards and Practices for All Appropriate Inquiries ("AAI Rule"), which is widely used in real property due diligence investigations.
The EPA adopted an updated standard of practice for Phase I Environmental Site Assessments on December 15, 2022. The updated standard adds more refined investigation and reporting requirements for parties seeking protection from environmental liability in land transactions.