A New Meaning to Due Diligence after January 2002 & How to Make the Most of the Bottom-Line Benefits of Brownfield Tax Treatment & Accounting
Spring 2002, Vol 27, No 1
Abstract: It is unlikely that very few people will ever find themselves choosing to be involved in a transaction involving a poster property for the brownfield cause. Nevertheless, a number of brownfield laws have had widespread impacts that may also benefit even the most mundane transactions. Here, this author discusses two issues of interest to anyone involved in acquiring or managing real estate: 1). Why the federal brownfields legislation enacted on January 11, 2002, requires more due diligence to discover and disclose environmental liabilities on property; and, 2). When there is something to disclose, how a few, often overlooked brownfield tricks-of-the-trade can bring real value to the bottom line.