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If you are
in this situation it is ESSENTIAL that you consult with an attorney
immediately. This is a complicated area of the law.
You can be liable even if you had no knowledge
of the contaminates at the time of your purchase. That makes
no difference under CERCLA, because basically the EPA can recover
from you any money spent for cleanup, even if you are not responsible
for the release. The law imposes joint and several liability
on those responsible. This means that all potential responsible
parties, including you, the prior owner, the owner of the facility,
those responsible for arranging transport of the hazardous substances,
would be jointly liable for some portion of the cost, or you,
individually, for the entire cost (assuming you were solvent).
Not a good thing!
Congress realized that this "forced" liability
for a released contaminant punished unjustly those not responsible
and amended CERCLA in 1986 under the Superfund Amendments and
Reauthorization Act. The Act, among other provisions, provides
protection from liability for those who purchased property after
the contamination took place. Be prepared, however, to do a lot
of homework.
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