Underground Heating Oil Tanks
Underground
heating oil tanks can pose many potential
problems to both home buyers and sellers.
They have been the source of many
environmental problems such as contamination
of surrounding soil and ground water.
Leaks are caused by the rust inside
underground tanks, or by an electrical
condition sparked by electric utility lines.
Buyers should have the tank inspected to
make sure that it is structurally sound.
Buyers who do not want an underground fuel
tank can arrange for an above ground tank to
be installed in the basement, an underground
tank to be shut off. Cleanups of any leaks
will also have to be taken care of.
For buyers, the underground heating oil tank
should be written in the sales contract. For
sellers, you lawyer should make sure that
the description and condition of the
underground heating oil is accurate and
up-to-date.
