Humber/Ontario Real Estate Course 1 Exam Practice

What steps should be taken if an underground storage tank is discovered on a property?

1. The seller should contact the Technical Standards and Safety Authority (TSSA) to ensure that it meets current standards.

2. The property cannot be sold until the tank is removed.

3. The tank, if unused, does not need to be disclosed to the buyer.

4. The listing salesperson should not list the property.

5. The buyer must sign a waiver assuming all responsibilities.

6. The tank should be inspected by a third-party contractor.

The correct answer is: The seller should contact the Technical Standards and Safety Authority (TSSA) to ensure that it meets current standards.

When an underground storage tank is discovered on a property, it is crucial to contact the Technical Standards and Safety Authority (TSSA) to assess whether the tank meets current standards. This regulatory body oversees the safe use and operation of such tanks and ensures compliance with environmental laws and safety requirements. By contacting the TSSA, the seller can determine if the tank is properly registered and certified. Additionally, they can obtain guidance on necessary inspections, potential remediation steps if contamination has occurred, and what actions need to be taken to bring the tank into compliance with current regulations. This step is essential not only to ensure the safety of future property occupants but also to protect the seller’s legal interests regarding liability and potential hazards associated with underground storage tanks. The other options either misinterpret the legal responsibilities or suggest actions that may not comply with regulatory processes regarding underground storage tanks.