What is considered a REC?
Definition of Recognized Environmental Condition
Central to the definition of a REC is the occurrence of a “release” whereby hazardous substances or petroleum have entered on-site or off-site soils or groundwater or some other media.
What is a REC in environmental?
Recognized Environmental Concern (REC) is one of the terms used to identify environmental liability within the context of a Phase I Environmental Site Assessment.
What is a recognized environmental condition in a Phase I ESA?
A Recognized Environmental Condition, or REC, is a term used in a Phase I ESA report to identify a particular, potential environmental impairment on a property. However, finding a REC, HREC or CREC in a report is no reason to panic if you have a grasp of what they mean for your transaction.
Is Asbestos considered a recognized environmental condition?
Asbestos is a condition outside the scope of ASTM E1527-13 and is not considered a recognized environmental condition (REC).
What is a phase one environmental assessment?
Identifies potential or existing environmental contamination liabilities. A Phase I Environmental Site Assessment, commonly referred to as an ESA, or Phase I ESA, is completed to research the current and historical uses of a property as part of a commercial real estate transaction.
What is a de minimis condition?
De minimis condition is defined by ASTM as “a condition related to a release that generally does not present a threat to human health or the environment and that generally would not be the subject of an enforcement action if brought to the attention of appropriate governmental agencies.” A de minimis condition is not …
What is a rec report?
Research Ethics Committee (REC)
Progress Reports are only required for studies that are more than two years in duration and for Research Tissue Bank and Research Databases. There is no requirement for a Progress Report for Proportionate Review studies and where the study is two years or less in duration.
What is a vapor encroachment condition?
The ASTM definition of a Vapor Encroachment Concern or “VEC” is “the presence or likely presence of chemical of concern vapors in the subsurface of the target property caused by the release of vapors from contaminated soil and/or groundwater either on or near the target property.”