Environmental
A seller is required to disclose the presence of a known underground oil storage tank under:
ACERCLA only
BThe Arkansas Property Disclosure Act and common law disclosure obligations✓ Correct
CRESPA
DOnly if the buyer specifically asks
Explanation
The Arkansas Property Disclosure Act requires sellers to disclose known material defects, which includes known underground storage tanks. Failure to disclose known material defects can expose the seller to liability.
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