Speakers: Aaron Levy, John Wertam and Andrew Davis
Initially adopted in 1985, the Connecticut Transfer Act continues to have significant implications for real estate and business transactions throughout the state. As a result, clients are best served when their LEPs and environmental attorneys work together both before and after a transaction to help them navigate the overlapping legal and technical aspects of Transfer Act compliance. Accordingly, understanding the legal triggers for Transfer Act applicability and appreciating the risks and liabilities associated with Transfer Act compliance is critical for LEPs to effectively advise their clients about the Transfer Act and its implications. This seminar will provide an overview of key legal aspects of the Transfer Act, including, determining whether the Transfer Act applies to a given transaction (and, if it does, what forms to file and why), potential liability for certifying parties, as well as address implications of the Transfer Act on a business transaction by providing a brief legal overview of the Remediation Standard Regulations, practical considerations related to Environmental Land Use Restrictions, and options for verification. The program will conclude with a brief discussion of other legal/technical issues to consider in connection with Transfer Act compliance before and after a transaction.
a. Applicability: A coordinated technical and legal analysis
i. What is (and what is not) an “establishment”?
ii. When is a transfer of an establishment not a “transfer of establishment”?
i. Forms I, II, III and IV and the Environmental Condition Assessment Form (ECAF)
ii. Legal overview of the Remediation Standard Regulations (RSRs) (RCSA §§ 22a-133k-1 through 3)
iii. Legal aspects and consideration related to Environmental Land Use Restrictions (ELURs) (CGS §§ 22a-133o through 133s)
iv. Verifications: Full, Portion, Interim
v. DEEP audits and practical considerations
c. Other Issues to Consider
i Implications of seller vs. buyer as Certifying Party
ii. Certifying Party - Joint and several liability until the site is verified?
iii. “Stacked forms” (e.g., transfer of a site after a Form III but prior to verification)
iv. New releases by non-certifying party
Continuing Education Credits: This program has been approved for 2.0 hours of CT LEP credits by the CT State Board of Examiners of Environmental Professionals (CTLEP-438).
Note: This program is open for all to attend - not restricted to CT LEPs.
For more information or to register, please click here