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What are the risks of owning contaminated property? | Lewis, Longman & Walker, P.A. | http://www.llw-law.com/ | Jacksonville: (904) 353-6410 | Tallahassee: (850) 222-5702 | St. Petersburg: (727) 245-0820 | West Palm Beach: (561) 640-0820


The risks are going to vary entirely on the nature of the contamination, the amount of the contamination, the extent of the contamination, but the important thing is that if you know about the contamination before you purchase the property, for example, you can take that risk into account in your purchase price, and you can take it into account with negotiations with the regulatory agencies that you might have to deal with, like the Department of Environment Protection that normally is responsible for overseeing clean up with contamination.

Surprisingly, come contamination doesn't even have to be cleaned up. There are methods by which you can essentially just monitor contamination, because contamination often cleans itself up over time.