Does a below ground gas tank need to be removed before selling a commercial property?

[ghurty]

What is the name of your state (only U.S. law)? New Jersey

In NJ if a commercial property had a below ground gas tank that is not in use anymore, does it need to be removed before selling the property?

Thank you

 

[adjusterjack]

What is the name of your state (only U.S. law)? New Jersey

In NJ if a commercial property had a below ground gas tank that is not in use anymore, does it need to be removed before selling the property?

Thank you

As a practical matter, the answer could be yes if no buyer will touch the property unless the tank is removed and any contamination remedied.

Why?

What's happening to you?

 

[quincy]

What is the name of your state (only U.S. law)? New Jersey

In NJ if a commercial property had a below ground gas tank that is not in use anymore, does it need to be removed before selling the property?

Thank you

Usually the tanks must be removed and the land tested for contaminants.

There are environmental protection concerns that need to be addressed prior to selling property with underground tanks. If an underground tank has leaked and other properties in the area have been contaminated, for example, the property owner might find that his property cannot be developed or sold for many years, and the property owner could also find he is subject to lawsuits filed by neighbors affected by the leaks.

Is the property being sold a former gas station?

 

[cvap]

What is the name of your state (only U.S. law)? New Jersey

In NJ if a commercial property had a below ground gas tank that is not in use anymore, does it need to be removed before selling the property?

Thank you

A Propane tank may only have to be tested. The odds are that a gasoline tank would be under more strict laws.

 

[quincy]

A Propane tank may only have to be tested. The odds are that a gasoline tank would be under more strict laws.

It would be nice if ghurty returned to provide some clarification but commercial properties with old underground gas tanks are almost always gas stations.

Whenever there are underground tanks, however, the old tanks generally must be removed and the ground tested for contaminants before the property can be sold.