The ISRA Mouse that Roared
GlobeSt.com, Real Estate New Jersey
May 12, 2008
The article addresses the New Jersey Department of Environmental Protection's announcement that it is longer issuing Letters of Non-Applicability (LNAs). Without the LNAs, now parties to transactions that may trigger the state's Industrial Site Recovery Act (ISRA) may have to rely on their own environmental consultants and legal counsel to advise them on ISRA compliance. The article discusses the different parties' ISRA obligations and ways to avoid liability.