Other government instruments made available to potential buyers to manage potential liability are agreements regarding potential buyers and decisions on no other measures. These are important typical public benefits for PDOs negotiated by the DEQ. However, the DEQ assesses each agreement individually and there is a wide range of significant potential public benefits. The DEQ encourages potential buyers to be creative. ORS 465.255 contains some legal improvements that are particularly relevant for buyers. For example, a person who purchases goods that are already contaminated would not be held liable under the defense of the “innocent buyer” if, at the time of purchase, the person was not aware of the contamination and should not reasonably have been aware of it. To maintain this defence, the person must have carried out “all appropriate investigations” before the purchase of the property. Although Oregon has not adopted an AAI rule, an assessment consistent with the federal AIA rule (see below) would generally be a satisfactory investigation. Other forms of study may also be sufficient.

In any case, if the pre-acquisition assessment identifies contaminations or conditions requiring further investigation, this defense would not be available. The Oregon Legislature created the Prospective Buyer program to promote the rehabilitation of contaminated properties. DEQ may enter into a AAA with a potential buyer that limits the buyer`s liability for the renovation of the environment in the property if the agreement results in a “significant public benefit” (e.g.B. significant funds for renovations, clean-up operations or productive reuse of empty real estate). PPAs can often help buyers and sellers decide who paid for the cleaning of the property and concluded it. To provide liability protection, a ECA must be concluded before the buyer closes on the land. The parties to a real estate transaction may also assign responsibility for contamination between the buyer and seller through indemnification, civil liability or similar agreements. While these buyers can help overcome uncertainties and are a common feature of many transactions, they do not relieve buyers of underlying responsibility. CERCLA offers an “innocent buyer” defense similar to that of Oregon law, for buyers who, at the time of purchase, “did not know and had no reason to be aware of real estate contamination.” This defense requires Buyer to make all appropriate investigations in accordance with the rules of the U.S. Environmental Protection Agency (Code of Federal Regulations, Title 40, Part 312). A detailed valuation of real estate is required to meet AAI standards.

The MFC facility is located on the Willamette River in the Portland Port Area and has been used for office trailer storage, storage and barge construction….