Tuesday, January 25, 2005

The Next, Great Law Suit

Let's see, what new thing in real estate can we find to sue over today? How about "inadequate disclosure of environmental liabilities"? "Huh?" I hear you say. Simple. There are plenty of activities out there creating present or potential environmental liabilities. There are plenty of folks also sitting on land where such activities once occurred. Businesses need to disclose such potential liabilities for all sorts of reasons, major ones being securities regulations, insurance, and real estate transactions.

Problem: There is NO standard for such disclosures, so neither disclosers nor disclosees know if the disclosure was adequate. Coming soon to a courthouse near you.


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