Bona Fide Prospective Purchaser Defense under CERCLA

Photo by stevendepolo. Some rights reserved.

CERCLA woes or worries? You’re not the only one.

Today, McGuireWoods comes to the rescue with a heap of information about bona fide prospective purchasers (BFPP), a status defined under CERCLA that protects eligible persons against CERCLA owner liability.

According to McGuireWoods, the BFPP defense was developed in order to allow purchasers to “conduct AAI [“all appropriate inquiries”] and to purchase property with knowledge of hazardous substance contamination without incurring liability as an owner or operator.”

The McGuireWoods publication goes on to give a thorough analysis of how “those who desire to rely on the BFPP defense” may be affected by recent court decisions as well as 2009 guidance published by the EPA on how the agency intends “to exercise its enforcement discretion with regard to the BFPP provision.”

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If you’re curious to read the original definition of “bona fide prospective purchaser” as it appears in the U.S. Code, you can see it here: 42 USC 9601 (scroll down to section 40).

For more information, you can also read the EPA’s FAQ about the 2009 guidance here.

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