40 CFR 312.29: The relationship of the purchase price to the value of the property, if the property was not contaminated
- Subpart C—Standards and Practices
- Revised as of July 1, 2025
Section 312.29 of the federal All Appropriate Inquiries rule, 40 CFR part 312, the rule a Phase I Environmental Site Assessment is performed to satisfy. The section is below as the regulation prints it.
The relationship of the purchase price to the value of the property, if the property was not contaminated
- 40 CFR 312.29
- Revised as of July 1, 2025
Section 312.29 of the federal All Appropriate Inquiries rule, 40 CFR part 312, the rule a Phase I Environmental Site Assessment is performed to satisfy. The section is below as the regulation prints it.
§ 312.29 The relationship of the purchase price to the value of the property, if the property was not contaminated.
(a) Persons to whom this part is applicable per § 312.1(b) must consider whether the purchase price of the subject property reasonably reflects the fair market value of the property, if the property were not contaminated.
(b) Persons who conclude that the purchase price of the subject property does not reasonably reflect the fair market value of that property, if the property were not contaminated, must consider whether or not the differential in purchase price and fair market value is due to the presence of releases or threatened releases of hazardous substances.
(c) Persons conducting site characterization and assessments with the use of a grant awarded under CERCLA section 104(k)(2)(B) and who know that the purchase price of the subject property does not reasonably reflect the fair market value of that property, if the property were not contaminated, must consider whether or not the differential in purchase price and fair market value is due to the presence of releases or threatened releases of hazardous substances, pollutants, contaminants, petroleum and petroleum products, or controlled substances as defined in 21 U.S.C. 802.
For the All Appropriate Inquiries rule the regulation governs. This page copies the Code of Federal Regulations' annual edition revised as of July 1, 2025, which is kept up to date by the Federal Register; amendments published there since that date are not shown. This page is a reference copy and not legal advice. Check the current regulation before relying on it.
Source
- Environmental Protection Agency, 40 CFR part 312, in Title 40 of the Code of Federal Regulations, Parts 300 to 399, revised as of July 1, 2025, as the U.S. Government Publishing Office posts it. File read October 6, 2026.