Underground oil tanks, Part II

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“Under … state environmental law (federal law applies to commercial property), when a residential underground oil tank develops a leak, the owner is required to dig it up and replace it with an above-ground tank. They are also liable for any soil contamination on their property, as well as any adjoining property. The cost to remediate a leaking residential underground oil tank could run as high as $20,000 [or] more, depending on the specific situation. So my advice to the buyer, if they really like the house: Look into getting underground oil tank insurance, and convert to a gas system if you can, flood zone issues notwithstanding.”

I chose to let a reader make that statement, so please, oil companies, don’t write to give me all the positives of owning an oil system. Another reader told of many tanks on her block that spilled during the storm. One neighbor sued all the others as a remedy to recover money for the cleanup of oil staining and removal. Not exactly the best way to make friends on your block, but it underscores that good (energy systems) make good neighbors. I guess that oil really can be very crude!

©2014 Monte Leeper. Readers are encouraged to send questions to yourhousedr@aol.com, with “Herald question” in the subject line, or to Herald Homes, 2 Endo Blvd., Garden City, NY 11530, Attn: Monte Leeper, architect.

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