Environmental
Underground storage tanks (USTs) on a commercial property in New York that have leaked petroleum products create liability because:
AThe property value automatically increases for remediation purposes
BThe owner may be liable for cleanup costs and damages under ECL and CERCLA, regardless of when the leak occurred✓ Correct
COnly the tank installer is liable
DLiability only exists if the DEC issued a notice of violation
Explanation
Leaking USTs create significant environmental liability under New York's spill law and CERCLA. Current property owners may be held liable for cleanup costs even if they did not cause the leak, unless they qualify for certain innocent purchaser defenses.
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