Environmental
West Virginia property disclosure requirements for underground storage tanks (USTs) are important because:
AUSTs increase property value as additional storage
BLeaking USTs can contaminate soil and groundwater, creating liability and remediation costs✓ Correct
CUSTs are only regulated at the federal level
DWest Virginia has no UST disclosure requirements
Explanation
Leaking underground storage tanks can contaminate soil and groundwater with petroleum products or other hazardous substances. Contaminated properties carry environmental liability and costly remediation requirements, making UST disclosure critical in WV real estate transactions.
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Key Terms to Know
Comparable Sales (Comps)
Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
ZoningLocal 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.
State-Specific Concepts
Disclosure Requirements
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