Implications of Dealing with Real Estate-Based Cleanup Statutes

There are several federal statutes which impose requirements for the reporting of spills and releases of hazardous substances and petroleum. These statutes, which include the Resource Conservation and Recovery Act, the Comprehensive Environmental Response, Compensation, and Liability Act (“CERCLA”), Title in of the Superfund Amendments and Reauthorization Act, the Toxic Substances Control Act, and the Clean Water Act, have different scopes as to the materials covered and the extent to which spills or releases of such materials must be reported. As a result, situations can arise where no reporting is required under any federal statute or regulation, and these circumstances can create problems for subsequent owners of the contaminated property inasmuch as they may be unaware of the true environmental conditions at the property.