Question

What is the importance of keeping abreast of environmental laws? How does the Superfund affect purchases of property?

Answer 1

Importance of keeping abreast of environmental laws

It is pertinent that the environmental managers keep abreast of all the environmental laws. This is because the nations continue elaborating the systems for the environmental law. The USA provided innovative models between the 70s and the 90s. However, European Union pioneered the refinements in the environmental law since the year 2000.
An environmental manager works across all the national borders. Since the law is the means through which the society defines and establishes a set of procedures and norms for its sustainability, it is pertinent that all the managers keep abreast of the environmental law.
Additionally, the environmental law has the federal power in order to regulate the interstate commerce. The interstate commerce rules and regulations are updated frequently by the federal government which makes it pertinent for all the managers keep abreast of the environmental law.

How does the Superfund affect purchases of property?

Superfund is a federal government program which is responsible for cleaning up the most contaminated land. The sites that come under this program are called the ‘Superfund site’. This program was brought forward to protect the public health and preserve the environment.

The Superfund site lowers the local property values which are a great risk for the purchaser. Environmental Protection Agency (EPA) has observed that all the sites are negatively impacted the property values in all the Superfund sites. Though the federal government has taken initiatives to clean up and retain the effectiveness of the Superfund site, people who are aspiring to buy a land seek to have a good land initially itself rather than take risk on buying any Superfund site. The purchasers are also with the dilemma that they might bear the cost of past and future clean up. However, they should be aware that if they have the ‘Bona fide Perspective Purchaser’ (BFPP), then they law can protect them from such issues.