This comprehensive guide examines the issues, problems and pitfalls involved in the intersection of real estate, business, and environmental law. A unique and practical resource, Environmental Aspects of Real Estate and Commercial Transactions, Third Edition, covers the entire range of environmental issues that arise when real estate is developed, operated, sold, or financed.

Edited by James B. Witkin, the chapters in this expanded and updated compendium are written by a team of 45 authors who include accomplished real estate, environmental, tax, land use, and business lawyers and technical experts, in private practice, corporations, government, and law schools. All chapters have been substantially revised to reflect changes in law and practice, and new chapters have been added on these increasingly important practice topics: conservation easements, brownfields redevelopment at military bases, smart growth initiatives, and environmental justice.

The clearly written, detailed, and timely chapters cover all aspects of the environmental issues that must be considered in the purchase, sale, or finance of office, retail, manufacturing, or multifamily properties. The book's 32 chapters are organized into five parts for quick access to pertinent information:

Part I: Basic issues of environmental liability - both statutory and common law. These chapters deal specifically with lender liability, plus chapters on environmental disclosure requirements and criminal environmental liability.

Part II: Environmental due diligence. Covers the environmental audit process, the role of environmental consultants, and the science necessary for understanding consultants' reports.

Part III: Environmental matters in the transactional and business context. Includes documentation for allocating environmental risks, landlord-tenant environmental issues, tax, securities and bankruptcy issues related to environmental matters, and valuation of environmentally impacted properties. Also features chapters on brownfields, institutional controls often used at brownfields sites, and environmental insurance.

Part IV: The most common environmental problems affecting developed properties. Topics include underground storage tanks, asbestos, lead-based paint, radon, indoor air pollution, and electro-magnetic fields.

Part V: Environmental problems that arise in the land development process. Chapters focus on wetlands, endangered species, stormwater issues, the constitutional "takings" implications of environmental laws, environmental justice, conservation easements, brownfields redevelopment of military bases, and smart growth.

PART I: AN OVERVIEW OF ENVIRONMENTAL LIABILITY

Chapter 1: Federal Environmental Liability

Chapter 2: Common-Law Causes of Action for Environmental Claims

Chapter 3: Transaction-Triggered Environmental Laws

Chapter 4: Lender and Fiduciary Liability Issues

Chapter 5: Environmental Release Reporting Obligations

Chapter 6: Criminal Liability for Environmental Matters

PART II: ENVIRONMENTAL DUE DILIGENCE IN REAL ESTATE AND COMMERCIAL TRANSACTIONS

Chapter 7: The Due Diligence Dilemma: How Much Is Enough?

Chapter 8: Environmental Consultants

Chapter 9: Understanding Environmental Reports and Risk-Based Cleanups: Science Issues for Transactional Lawyers

PART III: THE TRANSACTION: STRUCTURAL, TAX, AND OTHER BUSINESS ISSUES AND IMPLICATIONS

Chapter 10: Structuring the Transaction to Allocate Environmental Liability

Chapter 11: Brownfields Redevelopment: Creative Solutions to Historical Environmental Liabilities

Chapter 12: An Overview of Institutional Controls

Chapter 13: Toxic Tort Damages from Environmentally Impaired Properties

Chapter 14: Tax Aspects of Environmental Matters

Chapter 15: Environmental Disclosure Requirements under Securities Laws

Chapter 16: Treatment of Environmental Liabilities in Bankruptcy

Chapter 17: Environmental Issues in the Landlord-Tenant Context

Chapter 18: Business Transactions Involving Contaminated Property and Environmental Insurance

PART IV: WHAT THE AUDIT REVEALED: DEALING WITH SPECIFIC SUBSTANCES AND SITUATIONS

Chapter 19: Underground Storage Tanks

Chapter 20: Asbestos

Chapter 21: Lead-Based Paint

Chapter 22: Polychlorinated Biphenyls by Brigid E. Kenney

Chapter 23: Indoor Air Quality

Chapter 24: The Potential Impact of Electromagnetic Fields on Real Estate Transactions

PART V: ENVIRONMENTAL ISSUES AFFECTING REAL ESTATE DEVELOPMENT

Chapter 25: Takings: What Does It Take to Make a Take?

Chapter 26: Wetlands: Avoiding the Swamp Monster

Chapter 27: The Endangered Species Act

Chapter 28: Storm Water Regulation of Construction Activities

Chapter 29: Environmental Justice and Transactions

Chapter 30: Conservation Easements
Appendix A: State Conservation Easement-Enabling Statutes
Appendix B: Permitted Uses and Practices
Appendix C: Prohibited Uses and Practices

Chapter 31: Brownfields Redevelopment at Closed Military Bases

Chapter 32: The Emerging Field of Smart Growth: An Introduction

James B. Witkin is a partner and chair of the Environmental Practice Group of Linowes and Blocher in Bethesda, Maryland. Mr. Witkin's practice focuses on environmental issues arising in commercial real estate and business transactions. He represents clients on brownfields and other transactional matters, due diligence and environmental audits, and environmental disputes. His practice includes client representation before local, state, and federal environmental regulatory agencies, and compliance counseling.

His articles have appeared in Legal Times, The Practical Real Estate Lawyer, the National Law Journal, Probate & Property, and other publications. For several years he wrote the "Environmental Law Update" column for Probate & Property, published by the ABA. He has served on the editorial boards of The Practical Real Estate Lawyer, Real Estate/Environmental Liability News, Environmental Law and Practice, and the Underground Storage Tank Guide.

Mr. Witkin is a frequent author and lecturer on real estate and environmental topics. He has organized, chaired, and participated in ABA, state bar, and industry seminars on a wide variety of environmental and real estate issues, including brownfields, lender liability, underground storage tanks, mold, lead paint, asbestos, and environmental due diligence.

Mr. Witkin graduated from Harvard College (A.B. cum laude), London School of Economics (M.Sc. with distinction), and Harvard Law School (J.D. cum laude). He was a law clerk for the Honorable Ruth I. Abrams of the Massachusetts Supreme Judicial Court. He is admitted to the bars of Maryland, the District of Columbia, and Massachusetts. He is co-chair of the Environmental Law Commitee of the American Bar Association's Section of Real Property, Probate and Trust Law.

Format: 6x9" Softcover
Copyright: 2004
Pages: 1104
ISBN: 978-1-59031-287-2
Publisher: American Bar Association