no further action letter

no further action letter

Written confirmation from an environmental oversight board that a property requires no remediation for possible contaminants.

References in periodicals archive ?
Many appraisers feel that after a No Further Action letter is issued by a state environmental agency the responsible party and future property owners are absolved of financial responsibility for remediating the previous environmental contamination.
Unfortunately, many buyers, sellers, and appraisers expect a No Further Action letter to guarantee that the state agency has tested all of the surrounding areas promising no contamination.
How can an appraiser gauge the potential of previously existing contamination resurfacing on a property where a No Further Action Letter was issued by the EPA?