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Current Regulations Residential heating oil tanks are not regulated by NJDEP, therefore that you are not required to sample the soil or groundwater for possible leaks. If it is discovered that your UST is in fact discharging fuel do to its condition, the UST then becomes regulated and all necessary action must be taken between the homeowner, contractor and the NJDEP. This process can be costly. Though clean up may be covered by some homeowner insurances the cost is usually out of the homeowner's pocket. Click here for further information. Property Value An existing underground storage tank can affect your property value by its existence. If you intend to sell your property, it very common that the buyer or the realtor will require that the tank be tested (if still in use), or removed to ensure that the property is free from contamination. Insurance Policy's Most recently, insurance companies have added exclusions to their policies to make it more difficult for homeowners to force them to pay for clean-ups and have stopped writing new homeowners policies for properties with UST's. Check to see if your policy for such an 'exclusion' if so, now is the time to remove your tank. Tanks Installations There are options in choosing residential underground tanks such as horizontal & vertical basement tanks or Horizontal aboveground tanks. All of which can be installed in a neat and timely fashion. |