New EPA Standard Provides Guidance for Phase I Investigations

In a recent rulemaking, the Environmental Protection Agency (EPA) amended its “All Appropriate Inquiries Rule” (set forth in 40 CFR Part 312) to reference in the rule ASTM Standard E1527-13. ASTM Standard E1527-13 is the recently updated version of the industry standard that is commonly used to conduct Phase I environmental investigations that are undertaken in connection with commercial real property transfers.

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