10 Things You Need to Know About Underground Oil Tanks.

1. Most oil tanks don’t leak, but you don’t hear about the non leaking tanks because they are not as interesting to talk about as the leaking tanks.

2. There are no regulations requiring you to remove an in service heating oil tank from a property (in the State of New Jersey).

3. Buyers of both commercial and residential properties are concerned that an underground tank may have or is leaking.  This concern can be addressed if soil testing is performed around a tank to confirm that no leak has occurred.  Without independent testing there is no way to confirm that there is not a leak.  Oil Tank Testing and Tank Certification

4. Buying or selling a property where an oil tank was removed or filled in place and no report with test results is available, does not provide  legally defensible evidence that the tank did not leak.   In this situation testing must be done to verify that the tank did not leak.

5. In New Jersey Grants are available to reimburse homeowner’s for leaking oil tanks.   Previously grants were available to remove a non leaking tank, these non leaking tank grants are no longer available.  Jersey.

6. When a tank does leak, many homeowner’s insurance policies provide coverage for the cleanup.

7. When homeowner’s insurance does not cover a tank leak, the New Jersey Economic Development Authority provides both grants and loans to cleanup the leak.

8. Residential properties can be sold when a tank leaks, as long as the extent of the leak is determined, costs are developed to remediate the leak and both buyer and seller can agree on financial responsibility.

9. Tanks can be cleaned in the ground, then filled in place with foam, sand or concrete in lieu of removing the tank.

   10. In New Jersey, an NJDEP certified company must be utilized to remove an underground oil tank.  Curren Environmental is an NJDEP licensed environmental company.