ASTM E1528-14

4.2.1 Use Not Intended for CERCLA Liability Protection—This document is not intended to permit a 4.2.2 Transaction Screen Does Not Identify Recognized Environmental Conditions—This practice does not define a scope of assessment sufficient to identify recognized environmental conditions as defined in 3.2.74 of Practice E1527 and 3.2.80 of Practice E2247.

4.2.3 Residential Tenants/Purchasers and Others—Although this document is not intended for residential purposes, it may be used at the 4.2.4 Site-Specific—This practice is site-specific in that it relates to assessment of environmental conditions on a specific parcel of commercial real estate. 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.

4.5.1 Not every property will warrant the use of a limited environmental assessment such as the 4.5.2 Transaction screens must be evaluated based on the reasonableness of judgments made at the time and under the circumstances in which they were made. Subsequent environmental site assessments or transaction screens should not be considered valid standards to judge the appropriateness of any prior assessment based on hindsight, new information, use of developing technology or analytical techniques, or other factors.

4.6.1 Subject to 4.6.2, a prior transaction screen or other 4.6.2 If the user, or any other preparer(s) conducting a transaction screen has 4.7 The contractual and legal obligations between prior and subsequent users of 4.7.1 The contractual and legal obligations between a preparer and a 4.8 If the user is aware of any specialized knowledge or experience that is material to 1.1 Purpose—The purpose of this practice is to define a good practice in the United States of America for conducting a transaction screen1.1.1 This practice will not satisfy the requirement to conduct all appropriate inquiries into the previous ownership and uses of the 1.2 An evaluation of business environmental risk associated with a parcel of commercial real estate may necessitate investigation beyond that identified in this practice. See Sections 1.4 and 11.