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July 24, 2014

Residential Oil Tanks in Vancouver-Responsibilities of Buyers and Sellers

Many homes in Vancouver still have a heating oil tank, hidden in the backyard. They are normally hidden underground in backyards and filled with sand.

These unused buried oil tanks start leaking with rust over the time and produce harmful effect on the residents of a home. Therefore, the removal of residential oil tanks in Vancouver is essential. It also has adverse financial effect on the value of the property.

Bylaws of 12 municipalities, it is necessary to remove the heating residential oil tank in Vancouver. All the contaminated soil also be removed and it is equally important to replace the soil with clean fill.

If you are a Owner

The responsibility for the removal of the heating oil tank falls on the current property owner. The cost of removal depends on the remediation work. The owner needs to undertake the remediation work of the property. He can be ordered to do the same for neighboring properties as well in case if the contamination has spread.

A former owner may also be found responsible under common law nuisance for failing to stop seepage of oil to the neighboring properties.

If you are a Seller

The seller generally will provide a prospective buyer with the PDS or Property Disclosure Statement that needs disclosure of various potential defects, encompassing the existence of an underground oil tank.

If the seller announces that the property does not contain any contamination to their knowledge that later falls incorrect, the seller can be responsible for negligent misstatement.

If the PDA is stated to form part of the contract with an unqualified statement then it serves as an actual warranty. If a buried oil tank is found on the property, the seller will be held responsible for breach of contract.

The bottom line is to consider the quick removal of Residential oil tank in Vancouver. You need to contact a reliable oil tank removal company that provides professional services for oil tank removal.