Hazardous Materials - Underground Feul Tanks

Leaking underground oil or gas storage tanks could allow toxic materials to pollute the soil and contamilate wells and groundwaters. Federal government establish a program called Leaking Underground Storage Tanks (LUST) to regulate the installation, maintenance, monitoring, and failure of underground storage tanks. It may be costly to home owners if certain leaks being happened in the conservation areas. In any federally related mortgage transaction, the lender is required to obtain a '21-E' affidavit, signed by the seller and buyer certifying that the property have not been contamilated by the storage or dumping of hazardous wastes or substance, such as heating oil. In most states, a leaking underground heating oil tank must be removed at the owner's expense, and the tank and polluted soil must be disposed of in a hazardous waste facility.

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