Environmental implications regarding the purchase and sale of property have become one of the big unknowns in corporate liability. This paper and presentation will focus on practical ways to identify such risks and liabilities and subsequently minimize them in the sales agreement. Specifically, it will explain the various kinds of detailed auditing procedures that must be done prior to the transfer of facilities or property. Such auditing not only includes the historical and document searches, but also and more importantly, the actual physical auditing and in most cases sampling that must occur. In addition, the paper and presentation will outline the ways parties can protect themselves with language in the purchase/sale agreements and how to obtain the best results through certain negotiating techniques.

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