Question

First National has just foreclosed on the mortgage of one of its debtors, Rayon Chemical. It will be six months before Rayon can sell the property. What can First National do with the property without risking CERCLA liability? a. Inspect the property. b. It is too late; foreclosure results in CERCLA liability. c. Operate the plant. d. none of the abo

Answer 1

Answer:

Inspect the property.

Explanation:

CERCLA liability is placed on the person or entity that actually owns the specific contaminated facility in question. Therefore the best way to avoid CERCLA liability would be to inspect the property and see if it is contaminated in any way. If it is then First National will have to hire a company to decontaminate the facility and make sure it is up to par with industry safety standards.