Bona fide prospective purchaser definition

Bona fide prospective purchaser means a person who acquires ownership of a property after July 1, 2011, and establishes by a preponderance of the evidence that:

Bona fide prospective purchaser means a person who acquires ownership, or proposes to acquire

Bona fide prospective purchaser means a person who acquires ownership, or proposes to acquire ownership, of real property affected by defective drywall.

Examples of Bona fide prospective purchaser in a sentence

• Borrowers and subgrantees must assert:• Bona fide prospective purchaser (BFPP),• Contiguous property owners (CPO), or• Innocent landowners (ILO) have performed “all appropriate inquiry” as found in CERCLA 101 (35)(B), on or before acquiring the property and are not liable for cleanup cost.• Proof that they performed "all appropriate inquiry" into the property prior to obtaining it and meet all other CERCLA liability exemptions/defense requirements.

• Specifically, the Brownfields Amendment clarifies certain cri- teria a party must prove to qualify as an “inno- cent landowner,” and provides protection from CERCLA liability to “bona fide prospective pur- chasers” and “contiguous property owners.” Bona fide prospective purchaser status is available to landowners who purchase contaminated property and know at the time of purchase that the prop- erty is contaminated.

More Definitions of Bona fide prospective purchaser

Bona fide prospective purchaser means a person or a tenant of a person who acquires ownership, or proposes to acquire ownership, of real property after the release of hazardous substances occurred;

Bona fide prospective purchaser means a person (or a tenant of a person) who acquires ownership of a facility after October 1, 2009, and establishes each of the following by a preponderance of the evidence:

Bona fide prospective purchaser means an intentional purchaser of a Contaminated-Site, who had documented their intent to purchase the property in writing and who has offered to pay fair market value for the property in the contaminated state. Any former Owner, former Operator or other Person who is otherwise a Responsible Party or any Person who had more than ten percent (10%) equitable or other legal interest in any property impacted by the Contaminated-Site or any of the operations related to the contamination cannot be considered as a Bona Fide Prospective Purchaser. Parties meeting these requirements above as a Bona Fide Prospective Purchaser may petition the Department prior to property purchase, for a certificate to formalize their exemption status under R.I. Gen. Laws § 23-19.14-7.

Bona fide prospective purchaser or “BFPP” shall mean a person as described in CERCLA § 101(40).

Bona fide prospective purchaser means a person, or tenant of a person, who acquires ownership of a facility after June 13, 2001 and establishes by a preponderance of the evidence that:

Bona fide prospective purchaser means a person that acquires ownership of a property after the effective date of this section and establishes by a preponderance of the evidence that:

Bona fide prospective purchaser means a person who acquired ownership of contaminated real property after January 11, 2002 which the person knew to be contaminated at the time of acquisition and can establish each of the following: