Environmental
An Arizona seller is required to disclose the existence of a registered underground storage tank (UST) on the property because it is:
AIrrelevant to the buyer unless fuel is still stored in the tank
BA material fact that could affect the property's value and the buyer's decision to purchase✓ Correct
COnly relevant for commercial transactions over $1,000,000
DNot required to be disclosed if the tank has been decommissioned for more than 5 years
Explanation
The presence — and especially any leaking history — of an underground storage tank (UST) is a material environmental fact that must be disclosed by an Arizona seller. USTs can cause significant soil and groundwater contamination liability regardless of current use.
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