Early versions of the Waste Management Act had no vendor reporting or disclosure requirements to allow private parties to determine the possible extent of contamination at a given site. And, while many common-law cases of the past managed to avoid the “buyer beware” rule where a property was contaminated, these cases did not follow uniform approaches or clear rules for what vendors must disclose. The Environmental Management Act and the Contaminated Sites Regulation now enhance the certainty sought by parties in real estate transactions. For specific types of current or past land use, vendors must provide a site profile to prospective purchasers.
BC Ministry of Environment. 2005. FACTS ON CONTAMINATED SITES: Highlights for Realtors Property Vendors and Purchasers. BC Ministry of Environment