Posts tagged Bona Fide Prospective Purchasers.
As part of an evolving effort to encourage the redevelopment of brownfield properties, the federal Comprehensive Environmental Response, Compensation and Liability Act ("CERCLA" or "Superfund") was amended in 2002 to provide a defense against liability for existing property contamination for a class of purchasers who were not otherwise responsible for the condition. This is specifically referred to as the Bona Fide Prospective Purchasers ("BFPP") defense. It can be asserted to avoid liability under Superfund if a party can demonstrate its compliance with applicable ...
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