Recent changes in the area of environmental law regarding the cleanup of hazardous waste sites, particularly in the federal arena, are forcing lawyers to revise their strategy when advising commercial real estate developers. Lawyers have traditionally focused upon the economic aspects of a commercial real estate transaction such as the enforceability of leases, mortgage encumbrances, restrictions, title issues, and site inspection of the premises. In addition to focusing upon these traditional aspects, new and important emphasis must be placed on the analysis and determination of the condition of the physical property itself. Recent federal legislation such as the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (hereinafter CERCLA), 42 U.S.C. § 9601, et seq., and its amendment have created an area of uncertainty and confusion with respect to the liability for the cleanup of contaminated property.


Student Contributions, Symposium: Coping with Change in the Law