Lawyers Warn Sellers Of Growing PFAS Liability In Property Transactions

Industry lawyers are cautioning property sellers to voluntarily assess whether PFAS are present at their sites in order to limit potential uncertainties and bolster their leverage in real estate transactions, where prospective purchasers of contaminated property have a new incentive under EPA’s updated due diligence rule to conduct such assessments. They are also urging property sellers to hire their own environmental consultants to conduct such per- and polyfluoroalkyl substances (PFAS) assessments in part to prevent purchasers’ consultants from over-estimating the...