What type of environmental laws apply to commercial real estate transactions?

In Virginia, environmental laws that apply to commercial real estate transactions are largely dependent upon the location. For example, the Virginia Department of Environmental Quality (DEQ) regulates air quality, water quality, waste disposal, and underground storage tanks. Additionally, the U.S. Environmental Protection Agency (EPA) often has jurisdiction over any federally protected wetlands or endangered species habitats in the area. The Virginia DEQ requires that all commercial real estate owners comply with rules concerning hazardous materials storage, water discharge, and stormwater management. They also require completion of environmental assessments in order to determine if sites contain any hazardous materials and to identify any risks associated with contamination. Owners must obtain environmental permits to protect surface or groundwater resources. Additionally, commercial real estate transactions must provide the buyer with information about environmental regulations, including a description of any current or previous violations. The seller must also disclose any known environmental problems or any planned pollutant control efforts. This information must be provided to the buyer prior to the conclusion of the commercial real estate transaction. In summary, environmental laws that apply to commercial real estate transactions in Virginia vary depending on location and often include air and water quality regulations, hazardous materials storage requirements, environmental assessments, and disclosure of environmental problems. It is important for both buyers and sellers in a commercial real estate transaction to be aware of the environmental regulations that apply.

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What type of environmental laws apply to commercial real estate transactions?

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