2021 BFPP Defense Updates and ALTA Survey Standards
 

January 19, 2021
This was an event put on by CREW Cleveland that also involved another close chapter…CREW Akron. The two chapters listened to the discussion on the state-level environmental liability protections and new survey requirements for 2021.  In addition, a discussion on requirements and obligations needed to qualify and maintain status as a bona-fide prospective purchaser (BFPP) was conducted and how that status now offers state-level CERCLA liability protections for the purchase of a contaminated commercial or industrial property.  This is great news for CRE as there is more incentive for developers to purchase that old gas station property and/or machine shop.

We will also discuss the new version of the American Land Title Association/National Society of Professional Surveyors (ALTA/NSPS) Minimum Standard Detail Requirements that will become effective on February 23, 2021. This is the tenth edition of the Minimum Standard Detail Requirements that were recently adopted and accepted by ALTA and NSPS.

Featured Speakers:
Sarah Young – Senior Manager, August Mack Environmental, Inc.
James Brown – Director, NV5/Bock & Clark