How to Purchase a Property With An Underground Oil Tank

How to Purchase a Property With an Underground Oil Tank

When considering how to purchase a property with an underground oil tank, it’s important to take specific precautions. We recommend that the following items be included in the addendum to the purchase contract to help protect all parties and ensure a thorough evaluation of the tank’s condition and compliance.

    • A proper leak/release inspection of all petroleum underground storage tanks shall be performed.

    • If there is evidence of a petroleum leak/release from the tank(s), it shall be immediately reported to the Virginia Dept. of Environmental Quality (VDEQ) and addressed per State Water Control Law.

    • All out-of-use (regardless of how long) and/or leaking underground petroleum storage tanks shall be properly removed or, if approved, filled with an approved inert solid per Virginia local Building/Fire Code specifications.

    • The site is to be reasonably restored to its original condition (if it is necessary that an active tank be taken out of service due to leakage, then an equivalent replacement tank or alternative source of heat shall be provided). 

Is a Certificate or License Required?

There is no certification or license for inspectors, so it is important that qualified personnel are selected to perform the inspection. We also recommend that the inspection company carry professional liability insurance.     

Pollard Environmental meets both of these criteria.