What disclosure means here
The seller may have to deliver a prescribed environmental disclosure to the buyer on a qualifying transfer. That is paper and timing. It is not a remediation-funding process photocopied from New Jersey. Secondary 2026 briefings treat Indiana this way (Source: AcquisitionStars). Primary law still sits with Indiana counsel.
Census CBP 2023 still counts 284,452 U.S. manufacturing establishments (Source: Census CBP). Indiana’s share of that count does not turn RPTL into ISRA. Sell a manufacturing business in Indiana carries the state overlay. This glossary entry does not.
The Indiana sell page, if you need geography, is the overlay. This glossary entry stays on the disclosure noun. A former plating plant with a deed is a different fact pattern than a warehouse lease with no dirt. A stock sale of an operating company can be a third. Counsel applies the statute to the transfer type. Do not photocopy last decade’s form into the CIM.
Phase II sampling, if the Phase I recs say so, is still a federal-practice decision under AAI. RPTL does not order the borings. It may require you to tell the buyer what you already know. Those are different jobs. A buyer who treats the disclosure form as a Phase I has mixed two piles. A seller who refuses to disclose because “we already did Phase I” has mixed them the other way.
Census CBP’s national 284,452 count does not turn Indiana into New Jersey. How it works still wants the environmental binder before anyone exclusive. Keep ISRA, the Connecticut Transfer Act, and RPTL in separate folders even when one CIM writer wants a single “transfer act” heading.
Does a disclosure statute replace All Appropriate Inquiries?
No. Buyers still run Phase I work under 40 C.F.R. Part 312. A filled-in state form is not AAI. Phase I and Phase II stay on the federal path. One-hundred-eighty days remains the usual stale window for the Phase I practice. RPTL does not rewrite that clock.
A buyer who wants “ISRA-style comfort” in Indiana is asking for a statute Indiana does not have. What they can ask for is the disclosure package if counsel says the transfer fits, a current Phase I, and a price conversation if the disclosure names a condition. Cleanup liability remains real even when the briefing table does not show a New Jersey-style trigger. Illinois, for example, can show no ISRA analogue and still have a real dirt file. Do not treat an N or a disclosure-only cell as a holiday.
How it works still wants the environmental binder before anyone exclusive. FAQ owns the questions. This page will not price a cleanup or list every property type as automatic. Counsel in Indiana reads the statute. Jason Taken is a business broker.
How it should appear in a data room
If counsel says the transfer type fits, the disclosure package sits with the deed work and the Phase I. If counsel says it does not fit, do not invent a filing to look thorough. Over-filing a statute that does not apply is how a CIM sounds nervous.
| Statute | Typical job | Clone of ISRA? |
|---|---|---|
| Indiana RPTL | Disclosure on certain transfers | No |
| Connecticut Transfer Act | State transfer program / form | No |
| New Jersey ISRA | Industrial-establishment process | The original |
Indiana counsel still decides whether the transfer type and the property type fit. A stock sale of an operating company can be a different fact pattern than a deed of a former plating plant. A leasehold with no dirt conveyance can be a third. This glossary page will not list every property class as if the statute were automatic. The 2026 briefing table treats Indiana as a disclosure statute, not as New Jersey with a different postal code. Secondary primers agree (Source: AcquisitionStars environmental briefing). Primary law still sits in Indianapolis.
Do not invent a remediation-funding process because a buyer “wants to be safe.” Over-filing a statute that does not apply is how a CIM sounds nervous. Under-disclosing a transfer that does fit is how a close slips. The Phase I still runs. The 180-day stale window still applies to the AAI practice. RPTL paper, if it attaches, sits next to the deed work. It does not sit inside the Phase I PDF.
How it works still starts with tax returns before a tour. Returns do not replace environmental disclosure. FAQ owns the questions. The glossary hands you to the owner, then to a confidential intro call. Jason Taken is a business broker. He will not draft the disclosure package.
What this page will not do
It will not list every property type as if the statute were automatic. It will not price a cleanup. Jason Taken is a business broker. The glossary sends you to the owner. After the noun is straight, book a confidential intro call.