Humber/Ontario Real Estate Course 4 Exam Practice

What should a seller do upon discovering an underground storage tank on their property?

1. Contact the Technical Standards and Safety Authority (TSSA) to ensure it meets current standards.

2. The property cannot be sold until the tank is removed.

3. The tank, if unused, would have to be removed.

4. The listing salesperson should not list the property.

5. The tank must be immediately reported to local authorities.

6. Hire a contractor to assess the tank’s condition.

The correct answer is: Contact the Technical Standards and Safety Authority (TSSA) to ensure it meets current standards.

Upon discovering an underground storage tank on their property, a seller should contact the Technical Standards and Safety Authority (TSSA) to ensure it meets current standards. This is the correct course of action as TSSA regulates the installation and operation of fuel equipment within the province of Ontario. Contacting them will ensure that the tank is compliant with safety standards and regulations, which is crucial for both the seller's peace of mind and for potential buyers. This step is necessary to address any potential issues with the tank and to ensure that it is operating safely. The other options are not the most appropriate actions a seller should take in this situation: - The property does not necessarily have to be unsellable until the tank is removed. - The tank being unused does not always mean it has to be removed. - The listing salesperson can still list the property after proper steps are taken regarding the tank. - Immediate reporting to local authorities may not be the best first step without understanding the situation and regulations involved. - While hiring a contractor to assess the tank may be necessary, contacting the TSSA should be the initial step to ensure compliance with regulations.