The Underground Storage Tank Inspection is an optional document. If included in your San Francisco disclosure package, it provides evidence that no underground storage tank is located at the property.
// This post is a part of our series: Your Guide to a San Francisco Disclosure Package //
The Underground Storage Tank Inspection is a *property specific* disclosure. It may be an important disclosure to review.
As of this writing, California law requires the owner of a property where an underground storage tank is present to remove and remediate any leakage. If you are the potential buyer of the property, you typically want to know if a property has an underground storage tank so that you can make sure it is removed or you are credited for the removal of it if you decided to pursue becoming the owner of the property.
Underground storage tanks were used for a period of time to store heating oil for old furnaces in certain parts of the city. Depending on the property type, the neighborhood, and the age of construction it may (or may not) make sense to have an underground storage tank inspection performed.
We have yet to have a property be inspected for an underground storage tank and have one unexpectedly turn up. Which isn’t to say we don’t know of some nightmare stories, and also some properties where they were present and disclosed.
As always, our comments and thoughts about a typical San Francisco disclosure package are not intended to serve as legal advice or create an agency relationship. You shouldn’t take advice from strangers on the internet you haven’t met, so schedule a meeting with us some time if you like.