(a) “Bona fide purchaser” means a person, or a tenant of a person, who acquires ownership of a site on or after January 1, 2005, and who establishes all of the following by a preponderance of the evidence:
(1) All releases of the hazardous materials at issue at the site occurred before the person acquired the site, except as described in paragraph (2).
(2) All of the conditions of Section 25395.80 to qualify as a bona fide purchaser have been met.
(3) The person is not potentially liable, or affiliated with any other person who is potentially liable, for the release or threatened release at the site through any of the following circumstances:
(A) Any direct or indirect familial relationship.
(B) Any contractual, corporate, or financial relationship, unless the contractual, corporate, or financial relationship is created by the instrument by which title or possession to the site is conveyed or financed or a contract for the sale of goods or services.
(C) The result of a reorganization of a business entity that was potentially liable for the release or threatened release of hazardous materials at the site.
(b) For purposes of this section, “release” does not include passive migration.
(Added by Stats. 2004, Ch. 705, Sec. 1. Effective January 1, 2005. Repealed as of January 1, 2027, pursuant to Section 25395.109, with continuing effect as provided in Section 25395.110.)