Environmental Covenants in Real Estate Transactions: Minimizing Exposure Risk to Contamination

Determining Whether a Site Requires Use or Activity Restrictions, Navigating Statutory Provisions

Recording of a 90-minute CLE webinar with Q&A

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Conducted on Thursday, September 24, 2015

Recorded event now available

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Course Materials

This CLE course will provide guidance to environmental counsel on navigating the requirements for environmental covenants and determining if and when environmental covenants are needed. The panel will offer best practices for negotiating and structuring these covenants.

Description

Most real estate transactions include environmental issues that must be addressed. Parties to these transactions and their counsel must be aware of the environmental regulations which exist at both the federal and state level and often call for environmental covenants to minimize the risk of exposure to residual environmental contamination on the property in question.

Activity and use restrictions are used to limit exposure to contaminants by limiting their pathways, such as groundwater or soil extraction. Further, the state may impose obligations requiring prior approval before excavation, as well as inspection and reporting requirements.

Parties and their counsel must understand and consider environmental covenants and their impact on property transfers or when financing real estate transactions.

Listen as our authoritative panel of environmental counsel examines the statutory requirements for environmental covenants and provides guidance for determining if and when environmental covenants are needed. The panel will also offer best practices for negotiating and structuring these covenants.

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Outline

  1. Statutory provisions
    1. Uniform Environmental Covenants Act
    2. State law provisions
  2. Determining whether site needs environmental covenant
  3. Structuring environmental covenants
    1. Use restrictions
    2. Activity restrictions
  4. Enforcing covenants

Benefits

The panel will review these and other key issues:

  • What key factors should be considered when drafting environmental covenants in real estate transactions?
  • How do environmental covenants work with other provisions in real estate purchase and sale agreements?
  • What are the best practices for minimizing environmental exposure risks in real property transactions?

Faculty

Joseph P. Koncelik
Joseph P. Koncelik
Counsel
Tucker Ellis

Mr. Koncelik, a former Ohio EPA director, chief legal counsel, and assistant attorney general, uses his 20 years...  |  Read More

Sharon G. Newman
Sharon G. Newman
Partner
Preti Flaherty Beliveau & Pachios

Ms. Newman’s practice includes advising clients on environmental, permitting, compliance and remediation issues;...  |  Read More

Ann Wei
Ann Wei
Partner
Hale Westfall

Ms. Wei represents and provides counsel on the environmental aspects of real estate, corporate, insurance and other...  |  Read More

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