![]() Satisfying the requirements of the AAI Rule gives a purchaser of contaminated property a layer of protection from federal CERCLA liability for environmental cleanup of the newly-acquired contaminated property. The 2013 ASTM Standard is the guideline used to conduct pre-purchase Phase I’s so that a purchaser can satisfy the requirements of the All Appropriate Inquiry Rule (“AAI Rule”). The 2013 ASTM Standard updates the 2005 ASTM Standard and impacts anyone who plans on buying, selling, or refinancing property. ![]() On December 30, 2013, a new standard for Phase I Environmental Site Assessments (“Phase I”), known as E1527-13 Phase 1 Standard for Environmental Site Assessments (“2013 ASTM Standard”) was adopted by the Environmental Protection Agency (“EPA”).
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