Should I worry about contamination on a property I'm not even buying?

Yes, if the business operates from that property under a lease you're taking over, or if contamination there could affect the business you're actually acquiring. Environmental liability in Ontario often attaches to whoever occupies or operates on a site, not only to the person who owns it, so a tenant business (and, by extension, a buyer who steps into that tenancy) can face exposure connected to a property it never held title to — through remediation obligations tied to the lease, restrictions on how the site can be used, or disputes with the landlord or a regulator.

Even where the business only rents, environmental issues at the premises can affect the deal in practical ways: a landlord's consent to assign the lease may be conditioned on addressing a known issue, insurance may exclude environmental claims, and financing can be harder to obtain for a site with a contamination history.

Environmental due diligence isn't only for buyers acquiring real property outright — if the business you're buying occupies a site with any history of concern, get it reviewed before closing. A Treadstone business lawyer can help scope what environmental checks actually make sense for your deal.