There’s much-contradicting information on New Jersey oil tank removal on the web. Here are the top 10 crucial things anyone needs to know about oil tanks.
How Can You Tell If A Underground Oil Tank Is There?
1.) The homeowners may never be aware that an oil tank was abandoned on their property because they did not conduct an inspection before buying the property or the inspector did not find the tank. It is essential not to rely on the seller’s inspection record before buying a house. Buyers should do the necessary research when looking for the presence of an oil tank.
2.) There are often clear indications suggesting the underground tank’s existence. For example, clear filler pipes, vents, and oil lines could be visible in the foundation wall that is used to move an oil tank’s contents to the furnace within. There aren’t always obvious signs, however. It is best to engage experts to carry out an oil tank sweep using tools such as detecting metal and ground penetration radars to ensure that the buried oil tank is discovered.
Finding an Oil Tank removed in NJ
3.) While underground tanks for oil (UST) can pose a significant environmental risk and financial liability, homeowners who have one in their homes are not required to get rid of it before selling. It is the responsibility of the buyer to manage this procedure properly. Most of the time, the seller will cover the majority of all costs of the oil tank’s removal in the closing contract.
4.) When filling up the tank with sand or another filler, removing it from its place was thought to be an acceptable method. But, there’s the risk of contamination, and most banks today require that oil tanks be completely removed before they can offer insurance companies unwilling to accept the risk.
Financial Considerations for Oil Tank Removal
5.) While state oversight isn’t explicitly needed for cleanup activities, The NFA or No More Action (NFA) note issued by the New Jersey Department of Environmental Protection (NJDEP) is requested by insurance companies and lenders generally after oil tank removal or soil remediation is complete. The cost to the NJDEP to offer this service is the responsibility of the person who requested it.
6.) Most insurance firms have a policy that states New Jersey will not provide coverage for leaks from an underground tank for oil. If they provide the protection, the coverage insured by the policy will typically be much lower than what an oil tank leak could be expected to cost.
7) Many companies that offer removal of oil tanks will not instantly disclose the cost of their service, and they state that it is contingent on the specific situation and task involved. If you’re bound by an unrestricted contract such as this, you can be sure that you’ll be charged more than you anticipated. ERC Environmental charges a flat rate of $1,750 for removing oil tanks regardless of the situation.
8.) There is an estimated 3.5-year wait for all DEP applications for the Petroleum Underground Storage Tank Remediation, Upgrade, and Closure Fund (UST Fund). While certain oil tank removal companies advertise that they have state funds, the reality is that the fund has not guaranteed funds for applicants. No funding is currently available for the program.
What happens after a Tank is removed?
9) If the tank gets removed, the local inspector, typically an official from the fire department, is assigned to examine the tank’s site. This inspection and a report prepared by the company responsible for the tank’s removal will determine whether additional testing or cleaning is required on the ground. The soil doesn’t have to be tested for any other reason.
10.) When an oil storage tank has leaked, and the levels of contamination are higher than the threshold allowed, soil remediation needs to be undertaken.
