A Connecticut licensee is representing a buyer purchasing a property that was formerly used as a gas station. The seller's attorney argues that because the property has already been remediated and received a 'No Further Action' letter from DEEP, the Connecticut Transfer Act does not apply to this sale. The buyer's agent disagrees. Which position is correct under CGS § 22a-134?
Correct Answer
A) The Transfer Act may still apply to the sale because a former gas station qualifies as an establishment, and the appropriate Transfer Act form must still be filed even after remediation
Under CGS § 22a-134, the Connecticut Transfer Act applies to the transfer of establishments, which are defined by their prior use involving hazardous substances. A former gas station qualifies as an establishment. Even after remediation and receipt of a No Further Action letter from DEEP, the Transfer Act may still require filing the appropriate form (typically a Form III or Form I depending on conditions) at the time of transfer. The No Further Action letter addresses the remediation status, but it does not necessarily eliminate the Transfer Act filing requirement at transfer. Buyers and their agents should ensure compliance is verified with an environmental attorney.
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