Are underground oil tanks legal in NJ?

For underground tanks: Only the Department of Environmental Protection (NJ DEP) certified individuals and firms can perform services on unregulated heating oil tanks. N.J.A.C. Although tank abandonment is allowed, there has been an increase in previously abandoned tanks being removed.

Can you sell a house with an underground oil tank in NJ?

In the state of New Jersey there are no laws that the seller has to remove an old oil tank on their property. However, buyers, attorneys, and insurance companies may not agree to have an underground oil tank.

How much does it cost to remove underground oil tank in NJ?

The average cost for removal of an Aboveground Storage Tank (AST) is $900.00. The typical cost for removing a heating oil Underground Storage Tank (UST) is $1,4000.00. The amount of liquid present, local permit fees and access to the tank are factors that will adjust the price.

Can I remove my own oil tank in NJ?

Can I remove my own oil tank in NJ? To remove an oil tank in New Jersey, you need to hire a professional tank removal company, and, per New Jersey law, that company must be licensed. The law applies to both above ground oil tank removal, as well as underground oil tank removal.

Can you have an oil tank leak in New Jersey?

6) Most insurance companies in New Jersey will not provide coverage for an underground oil tank. For those that do provide a level of coverage, the amount covered by the policy is usually much less than an oil tank leak can realistically cost.

Do you need insurance for an oil tank leak?

An oil-tank leak can be very expensive. Those expenses are even higher if the tank is underground. Since most homeowner’s insurance does not cover oil-tank replacement, having heating-oil-tank protection can give you peace of mind should your tank ever have a problem.

Is it illegal to remove an underground oil tank?

3) Although an underground oil tank (UST) poses a serious environmental threat and financial liability, homeowners with one on the premises are not obligated by law to remove it before selling. It is up to the buyer to negotiate this process properly.

How much does ProGuard oil tank insurance cost?

ProGuard coverage defrays clean-up costs, as well as soil remediation and site restoration up to $100,000 for an underground tank, and provides between $1,400 and $2,000 for tank replacement. easy transfer to a new owner. aboveground and underground tanks. tank replacement or repair. a moderate annual fee.

Are underground oil tanks legal in NJ? For underground tanks: Only the Department of Environmental Protection (NJ DEP) certified individuals and firms can perform services on unregulated heating oil tanks. N.J.A.C. Although tank abandonment is allowed, there has been an increase in previously abandoned tanks being removed. Can you sell a house with an underground…