Due Diligence Tip #13

Underground storage tanks (USTs) are the number one source of environmental liability on real property.  When reviewing your environmental professional’s Phase I ESA report, focus extra attention on current and potential historical USTs on-site. Your environmental professional should have reviewed fire insurance maps, permit records, and other municipal records to locate USTs long forgotten (but still buried on your property). There is no inexpensive way to manage a leaking UST.