First National has just foreclosed on the mortgage of one of its debtors, Rayon Chemical. It will be six months before Rayon can sell the property. What can First National do with the property without risking CERCLA liability?

Question

Quizplus · Accepted Answer

Under CERCLA, a lender who holds ownership primarily to protect its security interest and does not participate in the management of the facility is not considered an owner/operator and can inspect the property without incurring liability.

First National Has Just Foreclosed on the Mortgage of One