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Drafting Real Estate Contracts to Address Environmental Concerns
Environmental laws sweep broadly, regulating a wide range of business activities. The obligations and liabilities they create affect not only ongoing businesses, but also business transactions, including real estate transactions, stock transactions, financings and leases. This paper generally focuses on understanding and addressing concerns in real estate transactions, though similar principles apply with regard to other types of business transactions. Set forth below are: an overview of environmental programs; considerations pertinent to the structuring of real estate transactions and to the drafting of specific contractual provisions to manage environmental risks; and a brief description of some extra-contractual tools to manage those risks.