Rehabilitating and developing contaminated land
Conference
·
OSTI ID:78076
This presentation focuses on the problems involved when banks in California lend money using as collateral real estate that has been contaminated. Single action laws essentially limit the lenders remedies to the real estate purchased and taken as collateral. If a lender seeks a judicial foreclosure the court likely will take the position that a bank is a sophisticated lender and should know better than to step into a loss situation. According the EPA, if the property the bank has foreclosed on is environmentally impaired and as a responsible party, the bank, is liable for the remediation of this contaminated property.
- OSTI ID:
- 78076
- Report Number(s):
- CONF-9404125--
- Country of Publication:
- United States
- Language:
- English
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