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Heating Oil Tanks – New Laws and its effects on Real Estate

To all NC Real Estate Agents;   As of October 1, 2015, North Carolina Laws pertaining to Non-Commercial Home Heating Oil Tanks have changed and the Non-Commercial LPUST Cleanup Funds (aka Trust Fund) have been eliminated.   It is no longer necessary in many cases to remove petroleum contaminated soil and groundwater from a property to achieve a Notice of No Further Action (NFA); however, in order to achieve an NFA status for these incidents without cleanup, land use restrictions will be placed on the deed of the property. Cohesion...

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