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BURIED OIL TANKS

BURIED OIL TANKS

Buried fuel tanks were used in many areas for the fuel supply for heating and hot water systems. It is estimated that as many as a quarter of residential underground fuel tanks are currently leaking. Although leakage may be relatively slight, it may occur over a long period, creating an environmental concern. The Schultz Property Inspection Technical Staff reports that most homeowner insurance policies exclude coverage for expensive soil decontamination.

Considerations
While a home inspection does not include a search or assessment of buried fuel tanks, it is prudent for home buyers and sellers to resolve the issue by locating such tanks and having them tested for leakage. Failing tanks should be removed along with all tainted soil, following local, mandated procedures. Tanks that are not leaking must be monitored on a regular basis. In some areas, regardless of condition, all buried fuel tanks must be removed and properly abandoned.

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