Environmental
Underground storage tanks (USTs) are an environmental concern in real estate primarily because:
AThey increase property taxes
BLeaking tanks can contaminate soil and groundwater with petroleum products✓ Correct
CThey are always owned by the government
DThey must be removed before any property can be sold
Explanation
Leaking USTs, often containing petroleum or chemicals, can contaminate surrounding soil and groundwater, creating significant environmental liability and cleanup costs for property owners.
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Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
Adverse PossessionA doctrine by which a person can gain legal title to another's land by openly, continuously, and adversely occupying it for a statutory period.
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