The term 'Fleet Factors' refers to a landmark 1990 court decision in the United States regarding a lender's potential exposure to liability for environmental cleanup if the lender acquires the property by foreclosure.
An evaluation of a site, prior to acquisition of title to the property, for the existence of hazardous waste. This assessment is crucial under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA), as amended by the Superfund Amendments and Reauthorization Act of 1986 (SARA).
