EPA ADOPTS ASTM INTERNATIONAL'S E1527-13 STANDARD
The EPA recently finalized a new environmental assessment standard for property transactions and adopted ASTM International’s E1527-13 Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process. The standard gives clear and additional guidance for environmental assessments of commercial and industrial property that allow purchasers to qualify for protections under state and federal laws.
The updated standard explains that the real or potential occurrence of vapor migration and vapor releases on, at, in or to the subject property must be assessed. It also clarifies record review requirements and simplifies several definitions commonly used and referenced in property assessments and assessment standards.