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Updated over 7 years ago on . Most recent reply

Chris Toedter's profile image
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Chris Toedter
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  • from Clifton, New Jersey
  • Member since Feb 28, 2017
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Chris Toedter's profile image
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Chris Toedter
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  • from Clifton, New Jersey
  • Member since Feb 28, 2017
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Chris Toedter
  • Professional
  • Clifton, NJ
4
Votes |
34
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Buying & Selling Real Estate

New Jersey oil tank issue

Chris Toedter
  • Professional
  • Clifton, NJ
Posted

sooooo here's my issue

Purchasing a 4 family MONSTER last call to be made there was an oil tank found. I know I know I know get it removed get it removed or the soil tested. BUT it's a 4 family I don't plan on selling it. It's a cash flow situation! 

I have the opportunity to look the other way keep it underground! 

I need recommendations! Badly!!

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Jessica Zolotorofe
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Jessica Zolotorofe
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Jessica Zolotorofe
  • Attorney
  • New Jersey
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Jessica Zolotorofe
  • Attorney
  • New Jersey
Replied

Abandoned and decommissioned properly? If so, you can just leave it. Otherwise, major liability if someone gets sick, or it leaks and contaminates another property or worse, groundwater.

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