JEANNE REARDON - Attorney at Law
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What does the "on or about" closing date in my contract to purchase a home mean?
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Real Estate Law Blog

August 2012

Home Buyers: Beware of Underground Oil Tanks

Whether buying a single-family or multi-family home, the prospective homeowner must carefully review the property and perform the necessary due diligence before buying to ensure there are no buried and leaking underground oil tanks on the property. 

A buried and leaking underground oil tank brings with it immense liability and very often a large cleanup bill for the homeowner. Homeowners are responsible for leaking oil tanks on their property, and the Navigation Law, § 181(1), imposes strict liability (