What does SARA stand for in the context of real estate and environmental regulations?

In the context of real estate and environmental regulations, SARA stands for the Superfund Amendments and Reauthorization Act. This legislation was enacted in 1986 as a reauthorization of the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). SARA was designed to improve the Superfund program, which addresses the cleanup of hazardous waste sites and aims to protect public health and the environment.

One of the key features of SARA is its emphasis on community involvement in the cleanup processes and the establishment of standards for the cleanup of contaminated sites. It also increased the funding for the Superfund program and included provisions for the enforcement of certain liabilities on responsible parties. This act is significant for real estate professionals as properties located near or on former hazardous waste sites may have legal and environmental implications that need to be addressed during transactions.

Understanding SARA helps real estate professionals recognize the importance of environmental due diligence and the potential impact of hazardous materials on property values and marketability.