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About Underground Oil Tanks
Before municipalities installed natural gas lines, the furnaces in most homes used fuel oil stored in a tank. Underground oil tanks were common from the 1930s to the 1980s. Due to their size and unsightliness, as well as the risk of vandalism and theft, tanks were often buried, explains real estate attorney and investor Rajeh Saadeh.
“Over time, and due to a variety of factors like corrosion or damage, tanks can wear out to the point where the walls are compromised and permit oil therein to contaminate soil and groundwater,” Saadeh says. “This causes a negative impact on the environment, including the health and safety of people.”
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