Under Maine law, what must a seller disclose regarding heating oil tanks on a residential property?
Correct Answer
B) The seller must disclose known underground storage tanks and any known oil or fuel contamination on the property
Maine's Property Disclosure Statement (33 M.R.S. § 173) requires sellers to disclose known underground storage tanks and any known contamination from oil, fuel, or hazardous substances on the property. Many Maine homes use heating oil, and underground or above-ground storage tanks that have leaked can result in significant environmental remediation costs. Sellers must disclose what they actually know; they are not required to conduct inspections. This is a state law requirement, separate from any federal EPA regulations.
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