We purchased a property in California in the 1970's from a major oil company. It had been a gas station. Of course in those days, no one did Phase 1' or 2's or testing, etc. We built a restaurant ... a tire store on the site which are now getting old and past their useful ... order for us to do any new project in the future, I'm sure that we would be required to do testing where the gas station was. So here are my questions...
Should we wait until that time in the future when we are ready to build something new, or should we test now? I don't know if there is a fund in place now to take care of these costs...
Is the Oil Company still responsible?
Do the Oil Companies fight you or do they acknowledge&... take care of all costs.
Thanks for the help...