Underground oil storage tank

Did an inspection on a house with an underground oil storage tank. It’s still in use for HW heat. What are the ramifications of having this tank? New owner is planning to change to gas.

Here is some information

Thanks Troy. I’m going to give my client a copy of that. Here’s my verbiage for the report:
“This property has an underground oil storage tank that is in use for heating oil for the home. This tank was not inspected other than to verify that it does contain oil. It is highly recommended that buyer check with local authorities to determine property owner’s responsibility regarding ownership and what steps would be necessary for the remediation of this tank. Underground oil storage tanks have the potential to be an environmental hazard and cleanup could be very costly.”

Sound reasonable?

Uderground fuel tanks regs are administered by the individual states.

Find out what you state requires.