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Are there environmental hazards on the property you want to buy?

On Behalf of | Jun 8, 2016 | Commercial Real Estate

Before signing the contract to purchase commercial real estate in Texas, the person who is selling the property to you must provide you with specific information. According to the Dallas Bar Association, this includes facts that are directly related to any environmental issues that may be relevant to the property.

With reference to the documentation you should receive from the seller, requirements vary depending on which state and federal regulations apply. Texas maintains several programs mandating records of environmental conditions that create restrictions on the use of the property. Environmental reports, permits and certificates are some examples of acceptable documentation.

The state has a statute specific to mold damage requiring that a seller must have certificates for the past five years listing the steps taken to reverse the damage. You should also receive notice of any hazardous substances that have been or could be expelled onto the property, according to the Texas Health and Safety Code, and there are regulations specific to underground and aboveground storage tanks, too.

When the property you are considering contains a building, federal rules regarding asbestos records may be applicable. If asbestos has been identified in the facility, or there are materials that are believed to contain asbestos, the seller must provide you with any records that were received regarding its presence.

Other statutes and regulations may apply, depending on the type of property and its condition. While this information is intended for educational purposes, it is not all inclusive, and should not be considered legal advice.


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