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Property Information / Interesting Risks on Upcoming Trent Hills Tax Sale
« on: September 24, 2018, 09:21:55 PM »
Some interesting risks on the upcoming Trent Hills tax sale (more then 1 property)
221 Banta Road (Warkworth) former meth lab.
https://www.northumberlandnews.com/news-story/3911980-update-ministry-of-environment-assisting-police-with-meth-lab-clean-up/
At the other site make sure you get the oil rights. (hint hint) What is really risky is this potential risk does not show on title because the electronic ownership record does not go that far back when it was transferred to land
titles. i.e. this risk problem happened so long ago the only way to find it was in a pre world war 2 aerial photographs and to search the registry books.
Proving either of these properties saleable even if there are no problems is expensive. Standard Phase 1 environmental costs are about $3,000 and Phase II costs are about $4,000 (PER BORE HOLE) including taxes (HST) for both.
I am not certain if there is a surcharge for former meth labs.
221 Banta Road (Warkworth) former meth lab.
https://www.northumberlandnews.com/news-story/3911980-update-ministry-of-environment-assisting-police-with-meth-lab-clean-up/
At the other site make sure you get the oil rights. (hint hint) What is really risky is this potential risk does not show on title because the electronic ownership record does not go that far back when it was transferred to land
titles. i.e. this risk problem happened so long ago the only way to find it was in a pre world war 2 aerial photographs and to search the registry books.
Proving either of these properties saleable even if there are no problems is expensive. Standard Phase 1 environmental costs are about $3,000 and Phase II costs are about $4,000 (PER BORE HOLE) including taxes (HST) for both.
I am not certain if there is a surcharge for former meth labs.