In British Columbia, Canada, home buyers should be aware of the potential presence of underground oil tanks on a property they are considering purchasing. These tanks, also known as “decommissioned” tanks, may have been used to store heating oil, diesel fuel, or other petroleum products.
If an underground oil tank is present on a property, it is important to determine its condition and whether it has been properly decommissioned. A decommissioned tank is one that has been permanently closed and emptied of all contents, and is no longer in use.
If an underground oil tank has not been properly decommissioned, it may pose a risk to the environment and the health and safety of people living on the property. Leaking tanks can contaminate soil and water, and can also be a fire hazard.
To determine whether an underground oil tank is present on a property and whether it has been decommissioned, home buyers should consider having a professional inspection conducted by a qualified environmental consultant. This inspection will involve visually inspecting the tank and the surrounding area, as well as checking for any signs of past or present leaks.
If an underground oil tank is present and has not been decommissioned, the home buyer may need to budget for the cost of decommissioning the tank and cleaning up any contamination that has occurred. The cost of decommissioning an oil tank can vary depending on the size of the tank, its location, and the extent of any contamination.
It is important for home buyers to be aware of the potential presence of underground oil tanks on a property they are considering purchasing, and to take the necessary steps to ensure that any such tanks have been properly decommissioned to protect the environment and the health and safety of the property’s occupants.
There are a few ways you can determine whether a property you are considering purchasing has an underground oil tank:
The seller of the property may be aware of the presence of an underground oil tank on the property, and may be able to provide information about its condition and whether it has been decommissioned.
You may be able to find information about the property’s history by reviewing public records or by hiring a title company to conduct a title search. This may include information about the presence of an underground oil tank on the property, as well as any past or present issues related to the tank.
A professional inspection conducted by a qualified environmental consultant can help you determine whether an underground oil tank is present on the property and whether it has been decommissioned. The inspector will visually inspect the tank and the surrounding area, as well as check for any signs of past or present leaks.
Environmental consultants are professionals who are trained to assess the environmental impact of activities such as oil and gas exploration, development, and production. They can help you understand the potential risks associated with decommissioned oil tanks on a property and advise you on the steps you should take to address any such risks.
Your local government may have information about decommissioned oil tanks on properties in your area, and may be able to provide guidance on how to address any issues that may arise.
Professional associations such as the British Columbia Oil and Gas Commission (BCOGC) and the Canadian Association of Petroleum Producers (CAPP) may have information and resources available to help you understand the risks associated with decommissioned oil tanks and how to address any issues that may arise.
Environmental agencies such as the Ministry of Environment and Climate Change Strategy in British Columbia may have information and resources available to help you understand the risks associated with decommissioned oil tanks and how to address any issues that may arise.
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Mary and Konstantin Kleiner | REALTORS® | Oakwyn Realty Ltd. Independently Owned & Operated | (604) 332-8335 | 3195 Oak Street, Vancouver, BC V6H 2L2 | Team Kleiner © 2021
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