What is the least expensive way to transfer environmental liability for uncontrollable exposures?

New York Real Estate Journal July 19 – August 1, 2016 –– There are many environmental laws in place to control exposure to toxic chemicals. However, chemicals that were in frequent use decades ago remain as contaminants in our soil, air, and water, along with the chemicals we use and rely upon in our day-to-day lives. We can’t control what migrates onto our property from those who may be less conscientious of the environment and the law. Additionally, accidents happen; we can’t always control what migrates off of our property, either.

Perchloroethylene (perc), a hazardous solvent used by most dry cleaners, can travel as a vapor through elevator shafts and air vents and migrate onto neighboring properties. More importantly, perc persists in soil and groundwater for a long time; even if all dry cleaners responsibly shift to safer chemicals, we must still deal with historic impacts. The chemical is harmful to the immune, reproductive, and central nervous systems, can cause permanent liver damage, and has been linked to increased rates of kidney cancer in neighborhoods with a lot of dry cleaning shops–a clear basis for being sued.

Click here to view the article on the NYREJ website.

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