When selling your house that has an oil tank, you need to make sure that it is properly noted in the property disclosure forms. Buyers will then often require an inspection of the tank, or certain tank related treatments. As the owner of a property that has an underground oil tank, you are responsible to make sure it is not leaking, rusted or ruptured. If there is any uncertainty whatsoever, an inspection may be required. Additionally, under Connecticut’s environment laws, if there has been a spill or discharge, you as the owner are responsible. This is not something you want to find out on the day of a closing, and certainly not after the closing is complete. So as you work with your attorney, be sure to let them know in advance that you have an underground oil tank. They will ask you certain questions regarding the tank and if necessary, help you do what needs to be done to have a worry-free closing.
Marc N. Needelman is an experienced real estate attorney, located in Hartford, CT. Contact the law office with questions and get a free initial consultation.