Active Standard ASTM E | Developed by Subcommittee: E A primary consideration in applying this practice instead of E is the nature and. 1 Nov This standard is issued under the fixed designation E; the 1 This practice is under the jurisdiction of ASTM Committee E50 on Environ-. On November 6th, , ASTM published the long anticipated new standard for conducting Phase I Environmental Site Assessments, ASTM E
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astm e1527 No implication is intended that a person must astm e1527 this practice in order to be deemed to have conducted inquiry in a commercially prudent or reasonable manner in any particular transaction. Section asmt, Terminology, has definitions of asttm not unique to this practice, descriptions of terms unique to this practice, and astm e1527.
The appendixes are included for information and are not part of the procedures prescribed in this practice. Referenced Documents purchase separately The documents listed below are referenced within the subject standard but are not provided as part of the standard.
There is a point at which the cost of information obtained or the time required to gather it outweighs the usefulness of the information and, in fact, may be a material detriment to the orderly completion of transactions. Section of this practice identifies, for informational purposes, certain environmental conditions not an all-inclusive list that may exist on a property astm e1527 are beyond the scope of this practice but may warrant consideration by parties to a commercial real estate transaction.
Users are cautioned that federal, state, and local laws may impose environmental assessment obligations that are beyond the scope of this practice. De minimis conditions are not recognized environmental conditions. However, forestland and rural astm e1527 transactions may include improvements including, but not limited to, residential dwellings, barns, sheds, garages, and greenhouses.
Section 5 provides discussion regarding activity and use limitations. Inclusion of petroleum products within the scope of this practice and Practice E is astm e1527 based upon the applicability, if any, of CERCLA to petroleum products. Therefore, this practice describes procedures to be followed to assist users in determining the appropriateness of using information in astm e1527 site assessments performed more than one year prior to the date of acquisition astm e1527 the property or for transactions not involving an acquisition the date of the intended transaction.
Work Item s – proposed revisions of this standard. However, such information shall not be used without current investigation of conditions likely to affect recognized environmental astm e1527 in connection with the property.
Astm e1527 13 provides additional information regarding non-scope considerations see 1. Link to Active This link will always route to the current Astm e1527 version of the standard.
The professional judgment of an environmental professional is, consequently, vital to the performance of all appropriate inquiries at the Phase I Environmental Site Assessment astm e1527.
Consequently, this practice does not address many additional issues raised in transactions such as purchases of business entities, or interests therein, or of their assets, that may well involve environmental liabilities pertaining to properties previously owned or operated or other off-site environmental liabilities. This practice is no less stringent than Practice E ; however, the means by astm e1527 this practice intends to satisfy that level of all appropriate inquiries within reasonable time and cost constraints are different than under Practice E Site reconnaissance of isolated areas of the property that include activities outside the definition of astm e1527 or rural property should be addressed using methodologies such as those provided in Ewhich may be conducted and reported in conjunction with this practice, as discussed in section 4.
Historical Version s astm e1527 view previous versions of standard. Not all aspects of this practice may be applicable in all circumstances. This ASTM standard is not intended to represent or replace the standard of care by which the adequacy of a given professional service must be judged, nor should this document be applied without consideration of a project’s many unique aspects.
In addition, no astm e1527 is intended that astm e1527 is currently customary practice for environmental site assessments to be conducted in other unenumerated instances including, but not limited to, many forestland and rural acreage leasing transactions, many acquisitions of easements, and many loan transactions in which the lender has multiple remedies. This practice is intended to provide a more practical approach to assess rural and forestland properties that are generally uniform in use.
Section 2 is Referenced Documents. Work Item s – proposed revisions of this standard.
Additionally, an evaluation of business environmental risk associated with a parcel of commercial real estate may necessitate investigation beyond that astm e1527 in this practice see Sections 1. The property to be assessed using this standard practice need not astm e1527 contiguous and may contain isolated areas of non- awtm and non- rural property.
See also section 1. Section 6 describes the User’s Responsibilities. Additionally, an evaluation astm e1527 business environmental astm e1527 associated with a parcel of commercial real estate may necessitate investigation beyond that identified e152 this practice see Sections 1. Section 13 provides additional information regarding non-scope considerations see 1.
Thus, these transactions are not included in the term forestland or rural property transactions, and it is not intended to imply that such persons are obligated to conduct an environmental site assessment in connection with these transactions for purposes of all appropriate inquiries or for any other purpose.
Users are cautioned that federal, state, and ashm laws may impose environmental assessment obligations that are beyond the scope of this practice. Sections are the astm e1527 body of astm e1527 Phase I Environmental Site Assessment, including evaluation and report preparation.