Short answer
The state's disclosure form asks directly. It asks whether you know of any tanks on the property, above or underground, used to store fuel or other substances, and if a tank is not in use, whether you have a closure certificate. It also asks about underground storage tanks, tests and toxic substances. Attach any reports.
The tank questions on the form
In the heating section, the New Jersey Seller's Property Condition Disclosure Statement asks whether you are aware of any tanks on the property, either above or underground, used to store fuel or other substances. If a tank is not in use, it asks whether you have a closure certificate. A related question asks about problems with any items in that section. These are yes, no or unknown questions, with space to explain.
Environmental questions
The environmental hazards section asks whether you know of any underground storage tanks or toxic substances now or previously present on the property or an adjacent property, such as PCBs, solvents, hydraulic fluid, petrochemicals, hazardous wastes, pesticides, chromium, thorium, lead or other hazardous substances in the soil. It asks whether any underground tank has been tested, and tells the seller to attach each test report or closure certificate if available.
Other items that overlap
The form also asks whether you have received written notice from an agency or private party that the property is or may be adversely affected by a condition on a nearby property, and whether the property has been tested for lead-based paint, urea-formaldehyde foam insulation, asbestos-containing materials or other toxic substances. If you answer yes to any of these, it asks what was done to correct the problem. Gather the paperwork before you list.
The wider duty
The form says sellers must disclose any known material defects even if the printed form does not ask. An old tank you know about, even if you think it is empty, is the kind of fact a reasonable buyer would care about. If you are not sure whether a tank exists, say so as unknown instead of guessing, and consider asking a licensed professional to check. A real estate attorney can tell you what applies to your property.
Selling a house with a tank question
Kaizen Home Buyers makes cash offers on New Jersey houses as-is, with no repairs and no agent commission. We can give an offer within 24 hours and close in 14 to 30 days or on the date you choose. Call 267-329-0084. An unresolved tank can affect any buyer's price, including ours, and any lender's willingness on a retail sale. Disclose what you know to every buyer, and compare a cash sale with listing with an agent.