In commercial real estate transactions, particularly for those convenience stores (C-stores) with gas stations, conducting the Phase I Environmental Site Assessment (ESA) is traditionally considered to be the buyer’s responsibility. The Phase I ESA is an integral tool during transactions, used to identify potential environmental liabilities associated with a property. However, sellers can also benefit significantly from conducting a Phase I ESA before listing their property for sale. 

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As wealth inequality remains stark, fueled in part by racial differences in homeownership rates, attention is increasingly turning to a lesser-known area of property ownership – heirs’ property. 

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