"dpb" wrote in message
...

I'd suggest first contacting the local entity in charge of building
occupancy permitting and residential real estate transfer regulations for
the jurisdiction and see what actual requirements are, followed by
contacting State offices if there are still uncertainties.

As someone else says, actually talking w/ the insurance underwriter (the
house currently is insured, surely?) as well as a few
brokers/underwriters/lenders should determine the lay of the land locally.

That sounds like a good idea since if there is a possibility it will work
it's worth the time and effort to try. If it doesn't work then it's on to
Plan B.

I've worked for two companies that had issues with underground tanks. In
the first a disgruntled employee dropped a dime to local authorities on an
old diesel tank which the company then had to remove at huge expense, there
was a lot of contaminated soil that had to go to a toxic waste facility.
The big international company unwisely tried to ignore the local Fire Dept.
when they ordered the tank removed, that didn't work out so well.

In the second case the company was buying a building that had an old
underground tank for waste oil, and their lawyers were real clear on not
signing the deal until the original owners had legally assumed all liability
for possible future cleanup of the tank site. Such cleanup is expensive, so
I don't doubt that lenders and insurance companies are digging in their
heels on no underground tanks.