Buried Oil Tanks

If you discover you have an abandoned tank on your property it s best to get rid of it.

Buried oil tanks.

Many homebuyers refuse to purchase homes with buried oil tanks until those tanks are removed. A home buyer s guide to buried oil tanks the risk of oil leaks means risk of major cleanup costs. This is not always true with ust s. Underground heating oil tanks.

The buried oil tank risk. However some delegated counties have regulations that do apply. Insurance may only cover a portion of these costs further increasing your risk. There are two basic types of home heating oil tanks above ground storage tanks ast and underground storage tanks ust.

The only way to eliminate the hazards that come with an underground oil tank is to remove the tank from your property. Remove the underground oil tank. Ast s are visible and when a leak or spill occurs it is apparent. Risks of buried oil tanks.

In some cases a residential mortgage lender may make a residential buried oil tank s removal a. The risks of an underground oil tank range from environmental and legal to financial and health related. First if your oil tank sprouts a leak the cost of cleaning the contaminated soil and water can stretch into thousands of dollars. Most home heating oil tanks are not regulated by new york state s petroleum bulk storage pbs regulations because they have a capacity of less than 1 100 gallons see the pbs registration fee worksheet pdf 11 65 kb for more information.