Selling A House With A Leased Propane TankComing up with $400 to $2,000 to buy a propane tank is hard for most people. You can only have your tank filled by your supplier. This fee is $2. How Do I Know If I Own My Propane Tank?. The new propane company will then be responsible for ongoing costs and maintenance. Follow these important guidelines to transport your propane tank safely. What to Know When Selling a House With a Propane Tank. You may also have to grapple with the following disadvantages. We bought the tank from the company, which is cheaper in the long run. Last edited: Jul 24, 2013 You must log in or register to reply here. If the seller owns the tank, make sure it's included in the terms of the house sale, and be sure to get copies of all propane tank paperwork. Don't forget about your portable propane tanks! Don't let improper propane handling put your family, home, or belongings in harm's way. What Does Propane Tank Installation Cost? (2023 Guide). If you're buying a house with a leased propane tank, you can keep the same tank and sign a new lease agreement with the propane provider that owns the tank. When selling a property, regardless of whether it is specifically mentioned in the contract or not, the residual fuel in a leased propane tank stored on the property becomes the property of the new owner. Toby's latest video briefly touches on how propane transfers take place in a Residential Purchase & Sale when propane tanks are leased and there is percentag. How does a Propane Lease work in a Home Sale?. The following special eligibility criteria must be met:. ">I have a underground 1000 gal propane tank on my property. The charges for removal of underground Company-owned. Buying or Selling a Home Powered by Propane Moving To Or From A Propane-powered Home Whether you're already an AmeriGas customer or brand new to propane, we're here to make the transition easy. The up-front costs of purchasing and installing a propane tank are significant. Fannie Mae purchases or securitizes mortgages that are secured by properties that have a business use in addition to their residential use, such as a property with space set aside for a day care facility, a beauty or barber shop, or a doctor’s office. We purchased a house a year ago with an underground propane take. Owning vs Leasing a Propane Tank : Propane Depot">Owning vs Leasing a Propane Tank : Propane Depot. Propane Tank Issues (clause, lawsuit, legal, Realtors). When a solar panel system is leased (usually over an average term of 20 years), the property owner signs a lease agreement requiring the owner to pay a monthly payment to the solar panel company. It is possible the company owned the tank at one point but sold it. Find out which is the case in your home-to-be. The propane tank itself will become an asset for your home as long as the Prorate the propane gas in your tank. If you'll be buying your tank, you must have a licensed individual install your tank. How does a Propane. How Much Does Propane Tank Lease Cost in 2023? (Pros & Cons). To be safe, you should send a letter to the Seller, at their last known address, and let them know that the tank has been abandoned, is of no use and will be disposed of in 30 days unless the seller makes arrangements with you to remove the tank. Rent Or Buy: Propane Tanks. Additional uses like heating or hot water might reduce the price of propane and the lease fee. Owning vs Leasing a Propane Tank : Propane Depot. The propane in the tank was purchased by the prior owner and was that owner's to dispose of. Additional uses like heating or hot water might reduce the price of propane and the lease fee. It is possible the company owned the tank at one point but sold it to the customer. When you're the owner of the propane tank, you'll have the choice to pick a propane supplier without being tied to a contract. As a seller, you'll need to receive a written statement from the supplier as to the amount and current market price you should use to calculate the additional cost of the propane gas. When an Agreement of Purchase and Sale for a resale home lists that the hot water tank is a rental item to be assumed by the buyer on closing, we generally think of a traditional rental contract: the homeowner pays a monthly fee to a company, usually the gas company, for the use of the appliance. If it is leased tank, you have to buy from the company who owns the tank and are at their mercy when it comes to the price of product. r/legaladvice on Reddit: Bought a house w/ propane tank 3. A 57 gallon above ground propane tank could cost $500-$700. Buying or Selling a Home Powered by Propane Moving To Or From A Propane-powered Home Whether you're already an AmeriGas customer or brand new to propane, we're here to make the transition easy. Switch Propane Companies and Avoid Termination Fees. Buying or Selling a House With a Propane Tank. Propane Underground Tank Questions. Propane Tank Installation From AmeriGas Propane. Bought a house w/ propane tank 3 years ago. If that wasn’t disclosed to OP, that seems like a screwup by the lawyers involved with settlement. Propane Tank Rental - Leasing a Tank Leasing a propane tank is an option that many potential customers have, provided they meet certain requirements. Selling your home doesn't burden the next owner with acquiring propane service as the tank is part of the sale. Every good thing has its negative side. The Burden of Installation and Maintenance Cost. If you plan on renting your tank, your installation will be completed by the company renting you the tank. Check the tank – Most leased tanks are marked with a label from the supplier; if you find one, contact the company and confirm the lease. At least now, you know what to expect when it is time to prorate propane on your closing statement. We have never used propane, or dealt with propane companies. The owners of the subject property must have the right to access those facilities, which must be viable on an ongoing basis. You are free to choose your supplier and switch suppliers whenever you like. If you plan on renting your tank, your installation will be completed. Like most big decisions, there are advantages and disadvantages to consider. Re-sell your propane tank to your new supplier. Follow these important guidelines to transport your propane tank safely. After moving in I learned that the propane tank was leased from Amerigas. It said if I wanted to continue using their tank, to fill out all this paperwork (which included a credit check requiring my social security number and more) and agree to the fees listed ($100/year leasing fee) and that no one could fill propane into their tank besides them. Specifically, the agent should ask for the name of the current propane supplier and whether the propane tank on the property is leased from that supplier or owned by the seller. Propane tank filling in lease and handling at changeover. Check the tank – Most leased tanks are marked with a label from the supplier; if you find one, contact the company and confirm the lease. Purchased property with propane tank that is leased, however, 80% full of propane. If you have multiple units fed from one tank you could set up smaller tanks for each place or distribute the cost between them all. We inherited a leased 500 gallon underground propane tank from Amerigas when we bought the house. With a purchased tank and regulator, you can shop around each time you get it filled, but most times, they will want an inspection fee (50. We live in upstate NY and have it filled when it is 35%, Fall, Late Winter and Spring. Find out which is the case in your home-to-be. Most companies will not sell and install a tank without also filling it with propane A dealer will not sell a tank to an unlicensed person for non-professional installation There is likely financing available to people who qualify, or you can pay for it upfront You can buy gas from whichever propane company you choose. How To Avoid It To avoid these issues, the listing or selling agent should ask the seller for the tank information. What is a Fixture in Real Estate vs. We were told at the time of sale that we own the tank and the paperwork from the title company does not show anyone else owns the tank or that it is leased. Oh, and their price point break usually starts at 400 gallons per season. Tank Pickup Fee - Upon termination of service, Company will remove any Company-owned tank on your property. We have contacted them and they will sell us the tank for. And even if that kind of money is accessible to you, you would probably much rather spend it on something fun. Ask Your Own Real Estate Law Question Relist: Inaccurate answer. Propane tanks can be owned by the seller or leased to them by their propane provider. Assuming a Rented or Leased Appliance on Your Purchase. Propane tanks don't come at a low cost. ensures that residents and businesses of Norwalk, Connecticut are never out of fuel with our automatic propane delivery service. If you’re buying a house with a leased propane tank, you can keep the same tank and sign a new lease agreement with the propane provider that owns the tank. How To Avoid It To avoid these issues, the listing or selling agent should ask the seller for the tank information. No matter how you use propane in your home or business, our AmeriGas experts will help you choose the correct tank size and install it for you. It is written in our County's real estate contract. Check the tank – Most leased tanks are marked with a label from the supplier; if you find one, contact the company and confirm the lease. With over 100 years of experience, Devine Bros. We called the local co-op for a fill, and they claim the tank is one of their leased tanks. Propane tanks are usually leased from the gas company the gas within the tank is bought and paid for by the Seller. The charges for removal of underground Company-owned tanks are described in Section 14 of the AmeriGas Terms and Conditions. What To Ask When Buying a House with Propane Heat | Foster Propane Heat Is A Major Selling Point, But You'll Want To Be Clear On A Few Of The Details Before Submitting That Offer. From there, you are either on some sort of contract where you pay monthly for them to continuously deliver propane throughout the year or you call when your tank gets low and you call them to come fill it. Propane tanks don’t come at a low cost. Make Sure You And Your Realtor Are On The Same Page If you are going to sell your house, you want to ensure that. Amerigas asserts that the gas in the tank belongs to the previous owner and that I must pay for the gas and sign a 3 year lease with them for gas delivery. For more information, check out our propane tank guide for available tank sizes and common uses. A dealer who sells propane and home heating oil needs to register only once to engage in the sale of both products. Leasing a propane tank means you need to purchase propane from the company that owns it. 0 found this answer helpful | 0 lawyers agree Helpful Unhelpful 0 comments Irving A Sonkin View Profile. 1000, we have done fine with the 500 gallon. We had a leased buried 500 gallon propane tank when we bought this house. Propane Tank Rental - Leasing a Tank Leasing a propane tank. The cost of renting a propane tank can vary depending on the size and type of the tank. Are you purchasing a home with leased propane tanks or are you selling a home with leased propane tanks? If so, then watch this short video with Toby sharing some insights into buying or selling a home with propane tanks on the property. There are no company markings or tags on the tank. They said they would sure like us to set up an account. Whether you need heating system replacement or building supplies, our professionals are here to help. It said if I wanted to continue using their tank, to fill out all this paperwork (which included a credit check requiring my social security number and more) and agree to the fees listed ($100/year leasing fee) and that no one could fill propane into their tank besides them. 2 months ago, a propane company wrote us saying they own the tank and demanding we sign a contract with them. Whether you're buying or selling your home, it's a good idea to keep a record of your propane tank and the maintenance it has had over the years, including invoices, statements or other relevant documents that your gas supplier can provide. Closeing is tomorrow (10-16-09) can they legally sell back the propane as the tank will remain, and I was today. How to Prorate Propane at Closing – iRealty Virtual Brokers. We purchased a house a year ago with an underground propane take. If you’ll be buying your tank, you must have a licensed individual install your tank. After moving in I learned that the propane tank was leased from Amerigas. How does a Propane Lease work in a Home Sale? Watch on. A 120 gallon above ground propane tank could cost. Check your contract from when you bought the house. Amerigas is charging us almost $2 over the average price per gallon in our area. When selling your propane heated home, you're entitled as the seller to prorate off the propane gas left in your tank. Leased propane tank? : r/homeowners. 1) There is a three-year statute of limitations for claims relating to breach of an oral contract. Propane Tank?">New Homeowners: Who Owns Your Propane Tank?. Basic Facts About Transferring the Propane Inside Your Gas. Rented or Leased Appliance on Your Purchase">Assuming a Rented or Leased Appliance on Your Purchase. Whether you rent or own your tank, your propane tank must be installed by a certified technician. The installation process and costs can be a hassle. Should You Own or Rent Your Propane Tank?. No matter if you are selling your home or buying one, every property that utilizes a propane tank should have a careful record of maintenance over the years. For example, a 500-gallon tank may cost around $40 to lease, while a 1,000-gallon tank may cost around $180 to lease. Recently purchased a home that has a propane fireplace and apparently an underground tank that was apparently leased by the previous … read more LawEducator 153,874 satisfied customers We just recently sold our house in Texas and moved to We just recently sold our house in Texas and moved to Missouri. We bought the tank from the company, which is cheaper in the long run. Propane tank filling in lease and handling at changeover">Propane tank filling in lease and handling at changeover. By owning the tank you can shop around for the best price on propane. Are you purchasing a home with leased propane tanks or are you selling a home with leased propane tanks? If so, then watch this short video with Toby sharing some insights into buying or selling a home with propane tanks on the property. This is also your opportunity to shop around. Propane tank rental, maintenance, and fuel costs vary somewhat by provider. It is an in-ground tank. Propane tank came with the house, a company is now asking us. No matter where your home or business is located, there is an AmeriGas location nearby dedicated to providing quality service ensuring you are never without the propane you need. If the seller owns the tank, the tank will be sold to you with the home. When you lease your propane tank from us, we take care of the maintenance and repairs. A year after having refilling it that company is charging us $125 a year to rent it. Private well or septic facilities must be located on the subject site, unless the subject property has the right to access off-site private facilities and there is an adequate, legally binding agreement for access and. The tanks you lease are private property and are not supposed to be serviced by another company, that's an insurance liability for the LP company. Propane tanks are another common item that may seem to convey with the property, but may be leased. When selling your propane heated home, you’re entitled as the seller to. Great choice! Now, you have another decision: whether to buy or lease your propane tank. At Paraco, your safety is our top priority, and we are transparent about our fees. We use around 1000 gallons a year, which is over their minimum so we have no tank rental fees. After moving in…">I just purchased a house with propane heat. Registrants must show that they have general liability coverage and insurance of at least $1 million to cover environmental damage due to propane gas leaks. Pipe Length Typically, a propane tank of more than 125 gallons must be installed at least 10 feet away from the side of a building and 10 feet from a property line. Otherwise, the tank is yours, and you can tell the company to stick it. Buying (Or Selling) a Propane. The new owner, however, is not obligated to abide by the agreement of the original owner. Rented propane tanks belong to the company with which you have signed a propane supply agreement. Check your paperwork – A note about ownership of the propane tank was probably included in the paperwork from your closing, so read up. There is a six-year statute for written contracts. The propane in the tank was purchased by the prior owner and was that owner's to dispose of. Midway Gas has the widest range of propane tank sizes in southwestern Virginia, and we’ll make sure you have the right size propane tank for your home’s needs and will safely and expertly install it. It was noted on the property disclosure page of the contract. 00 per year and I am obligated to buy propane from them. These are all examples of fixtures because they are all physical property that is affixed to the house. 18, 2022 Propane Tank Leases when Buying or Selling Are you purchasing a home with leased propane tanks or are you selling a home with leased. Check your paperwork – A note about ownership of the propane tank was probably included in the paperwork from your closing, so read up. Get Form How to create an eSignature for the fl dmv bill of sale. Specifically check the disclosures to see if the propane tank was leased and did not convey with the house. Overall, rental propane tank prices typically range from $50–$75 per year for a 250-gallon tank up to $100–$250 a year for a 1,000-gallon tank, not including the cost of propane. How To Avoid It To avoid these issues, the listing or selling agent should ask the seller for the tank information. Here's The Top Questions To Ask. Propane tanks can be an expensive purchase. r/howto on Reddit: Propane tank came with the house, a. Propane tanks don’t come at a low cost. If that was not disclosed, then you were sold a house with a non-leased propane tank. While costs vary based on the size of the tank and other factors, you should plan on spending at least $2,000. No matter how you use propane in your home or business, our AmeriGas experts will help you choose the correct tank size and install it for you. We have never used propane, or dealt with propane companies. Propane tank rental, maintenance, and fuel costs vary somewhat by provider. This matter should have been resolved during Closing but it wasn't!. Propane tanks can be an expensive purchase. It’s very important to understand. We will also provide propane tanks for lease or assist you with the purchase of a propane tank. As the nation's largest provider of propane, AmeriGas services all 50 states. Buying or Selling a Home Powered by Propane Moving To Or From A Propane-powered Home Whether you're already an AmeriGas customer or brand new to propane, we're here to make the transition easy. Find out which is the case in your home-to-be. propane tank ">REAL PROPERTY ISSUE: Can they take equipment (propane tank. First and foremost, you want to find out if the seller owns or leases the propane tank. A 120-gallon propane tank above ground can cost about $600-$900. We had a leased buried 500 gallon propane tank when we bought this house. If the seller owns the tank, make sure it’s included in the terms of the house sale, and be sure to get copies of all propane tank paperwork. 5 years we had it refilled by a local company. Cons of Owning an Above Ground Propane Tank. As a seller, you could charge the buyer as long as you have some official print out or ticket for the contents of that propane tank. 00 +) before agreeing to fill and try to get you to sign a contract. It came with a large propane tank that is only hooked up to our stove. Yes, maybe someone aware of NJ law or the Propane Provider Industry - Propane providers only provide gas when a homeowner "allows" them to dig-in their own Propane tank so they can only fill-in/service (aside even sur-charge the homeowner a monthly "service fee" for/insure itself for the tank's maintenence) and make up its own prices -unless. Amerigas installed the tank free-of-charge. First and foremost, you want to find out if the seller owns or leases the propane tank. Specifically, the agent should ask for the name of the current propane supplier and whether the. A 120-gallon propane tank above ground can cost about $600-$900. The tank itself. Therefore, if you move, it is up to the company to send qualified service technicians to empty it of excess propane (if the level is above 5%) and remove it from your property. 1) There is a three-year statute of limitations for claims relating to breach of an oral contract. a House with Propane Heat. Therefore, if you move, it is up to the. Don’t Get Burned By Solar Panels (Or Other Leased Items). Re-selling your propane tank and leasing it from the new supplier is our recommended option. Propane tanks can be owned by the seller or leased to them by their propane provider. Are you coming or going? Getting Started in. A 120 gallon above ground propane tank could cost $600-$900 per each tank. Toby's latest video briefly touches on how propane transfers take place in a Residential Purchase & Sale when propane tanks are leased and there is percentag. Amerigas installed the tank free-of-charge. Purchased property with propane tank that is leased, however, 80% full of propane. Purchased property with propane tank that is leased, however, 80% full of propane. Most companies will not sell and install a tank without also filling it with propane A dealer will not sell a tank to an unlicensed person for non-professional installation There is likely financing available to people who qualify, or you can pay for it upfront You can buy gas from whichever propane company you choose. Transfer Generator From Old House to New?. com Category Utility Services View all Suburban Propane contacts Suburban Propane alternatives Enbridge Gas Distribution Waste Management [WM]. Propane Tanks on Rural Property: Leased versus Owned. If this company falls out of favor with you, you will need to coordinate a transfer of ownership. You might end up spending a lot of money on the following services during the installation process. When selling your propane heated home, you’re entitled as the seller to prorate off the propane gas left in your tank. 18, 2022 Propane Tank Leases when Buying or Selling Are you purchasing a home with leased propane tanks or are you selling a home with leased propane tanks? If so, then watch this short video with Toby sharing some insights into buying or selling a home with propane tanks on the property. As the nation's largest provider of propane, AmeriGas services all 50 states. If you Own: If you Rent: Choice of Supplier. Whether you’re buying or selling your home, it’s a good idea to keep a record of your propane tank and the maintenance it has had over the years, including invoices,. If the company did not enter into this "house purchasing contract" with you, then it has no right to the tank, unless the company has an easement recorded with the county granting it the right to the tank. If you’re buying a house with a leased propane tank, you can keep the same tank and sign a new lease agreement with the propane provider that owns the tank. Buying or Selling a House with a Propane Tank: What You Need to Know Provide a history of your tank maintenance. There are no company markings or tags on the tank. Pros and Cons of Owning a Propane Tank. With a purchased tank and regulator, you can shop around each time you get it filled, but most times, they will want an inspection fee (50. Seller wants to sell propane back to Ask an Expert Ask a Lawyer Real Estate Law Questions N Cal Attorney, Lawyer 14,249 Satisfied Customers Since 1983 N Cal Attorney is online now Related Real Estate Law Questions. Rented propane tanks belong to the company with which you have signed a propane supply agreement. Moving or selling your home: what to do with your tank. I purchased a house with a leased tank and the paperwork was very clear that this was the case, and I am locked into buying propane from the company that owns the tank unless I purchase it from them. At least now, you know what to expect when it is time to prorate propane on your closing statement. If you’ll be buying your tank, you must have a licensed individual install your tank. Suburban Propane 144 complaints 38 resolved 106 unresolved File a complaint to Suburban Propane Suburban Propane contacts (added by reviewer) Phone number 1800 776 7263 Website www. Selling your home doesn't burden the next owner with acquiring propane service as the tank is part of the sale. 18, 2022 Propane Tank Leases when Buying or Selling Are you purchasing a home with leased propane tanks or are you selling a home with leased propane tanks? If so, then watch this short video with Toby sharing some insights into buying or selling a home with propane tanks on the property. This out-of-pocket cost is often prohibitive for homeowners looking to purchase a propane tank. For example, a 500-gallon tank may cost around $40 to lease, while a 1,000-gallon tank. Tank Pickup Fee - Upon termination of service, Company will remove any Company-owned tank on your property. The cost of renting a propane tank can vary depending on the size and type of the tank. You need to stick to your guns on this one. If you’re buying a house with a leased propane tank, you can keep the same tank and sign a new lease agreement with the propane provider that owns the tank. selling a house with a leased propane tank how do i know if i own my propane tank propane tank on property Create this form in 5 minutes! Use professional pre-built templates to fill in and sign documents online. Are you coming or going? Getting Started in a Propane-powered Home. Get access to thousands of forms. We called the local co-op for a fill, and they claim the tank is one of their leased tanks. Don't forget about your portable propane tanks! Don't let improper propane handling put your family, home, or belongings in harm's way. As a seller, you’ll need to receive a written statement from the supplier as to the amount and current market price you should use to calculate the additional cost of the propane gas. Propane tanks can be owned by the seller or leased to them by their propane provider. 5 Questions to Ask When Buying a Home With Propane Heat. Seller wants to sell propane back to gas company (missouri) never mentioned in disclosure, contrat, addendum or any peice of paper that was signed. When you lease a tank from AmeriGas, you can significantly reduce up-front costs like installation and conversion, as well as maintenance expenses across the life of the tank. Seller wants to sell propane back to Ask an Expert Ask a Lawyer Real Estate Law Questions N Cal Attorney, Lawyer 14,249 Satisfied Customers Since 1983 N Cal Attorney is online now Related Real Estate Law Questions. Most companies will not sell and install a tank without also filling it with propane A dealer will not sell a tank to an unlicensed person for non-professional installation There is likely financing available to people who qualify, or you can pay for it upfront You can buy gas from whichever propane company you choose. 18, 2022 Propane Tank Leases when Buying or Selling Are you purchasing a home with leased propane tanks or are you selling a home with leased propane tanks? If so, then watch this short video with Toby sharing some insights into buying or selling a home with propane tanks on the property. How does a Propane Lease work in a Home Sale? Watch on. The lease fee allows companies to recover the costs associated with providing your propane tank when usage falls below the required minimum. Propane tank rental, maintenance, and fuel. When an Agreement of Purchase and Sale for a resale home lists that the hot water tank is a rental item to be assumed by the buyer on closing, we generally think of a traditional rental contract: the homeowner pays a monthly fee to a company, usually the gas company, for the use of the appliance. Generally if you are leasing a propane tank from a company, then you are bound to buying propane from that one company. When an Agreement of Purchase and Sale for a resale home lists that the hot water tank is a rental item to be assumed by the buyer on closing, we generally think of a traditional rental contract: the homeowner pays a monthly fee to a company, usually the gas company, for the use of the appliance. You also have the added convenience of regular, reliable safety inspections, care, and fuel service. The tanks you lease are private property and are not supposed to be serviced by another company, that's an insurance liability for the LP company. I called them and told them that it came with the house and never in the paperwork did it say it was rented or leased. So the question arises is the tank a fixture, probably not if it is leased, if the user fails to pay the lease then the gas company will remove the tank. A 120 gallon above ground propane tank could cost $600-$900 per each tank. If the company did not enter into this "house purchasing contract" with you, then it has no right to the tank, unless the company has an easement recorded with the county granting it the right to the tank. BTW: Basements are usually not considered when the square footage of a house is quoted since they most often do not qualify as. You will lease the tank from them. When you lease a tank from AmeriGas, you can significantly reduce up-front costs like installation and conversion, as well as maintenance expenses across the life of the tank. For example, a 500-gallon tank may cost around $40 to lease, while a 1,000-gallon tank may cost around $180 to lease. Propane Review: Underground tank lease ">Suburban Propane Review: Underground tank lease. This out-of-pocket cost is often prohibitive for homeowners looking to purchase a propane tank. My neighbor bought his house from the original owner who had the same deal with Amerigas. Get in touch with us at 203-866-4421 or online to get propane. The owner is responsible for the purchase price of a propane tank and all required piping from the tank to the house, all regulators, fittings, and other installation. A dealer who sells propane and home heating oil needs to register only once to engage in the sale of both products. If the seller owns the tank, make sure it’s included in the terms of the house sale, and be sure to get copies of all propane tank paperwork. Again, about 4 or 5 years ago our contract has now changed to whatever is the content of that tank at closing becomes property of the buyer. A dealer who sells propane and home heating oil needs to register only once to engage in the sale of both products. A 57 gallon above ground propane tank could cost $500-$700. The local Propane Companies and their phone numbers are: Sunshine Propane, (360) 683-4010 Ferrellgas, (360) 683-9029 Mountain Propane, (360) 683-1881 Propane Northwest, (360) 683-5220 Pioneer Propane, (360) 683-9988 Suburban Propane, (360) 377-7647. Whether you rent or own your tank, your propane tank must be installed by a certified technician. In some cases, cooperative propane companies will purchase the propane tank from eachother. When you lease a tank from AmeriGas, you can significantly reduce up-front costs like installation and conversion, as well as maintenance expenses across the life of the tank. Buying a House with a Propane Tank: Moving Guide. The cost of renting a propane tank can vary depending on the size and type of the tank. Propane Tank Installation From AmeriGas Propane">Propane Tank Installation From AmeriGas Propane. Whether you rent or own your tank, your propane tank must be installed by a certified technician. I purchased a house with a leased tank and the paperwork was very clear that this was the case, and I am locked into buying propane from the company that owns the tank. If you plan on renting your tank, your installation will be completed by the company renting you the tank. Re-sell your propane tank to your new supplier. Additionally, there may be other fees associated with leasing a propane tank, such as a delivery fee or a set-up fee. When you lease your propane tank from us, we take care of the maintenance and repairs. selling a house with a leased propane tank how do i know if i own my propane tank propane tank on property Create this form in 5 minutes! Use professional pre-built templates to fill in and sign documents online faster. If the propane company had a verbal contract with the original owner, they had three years from the date of the last payment to recover the tank. Recently purchased a home that has a propane fireplace and apparently an underground tank that was apparently leased by the previous … read more LawEducator 153,874 satisfied customers We just recently sold our house in Texas and moved to We just recently sold our house in Texas and moved to Missouri. Follow these important guidelines to transport your propane tank safely. purchased a house with propane heat. Dealers will not sell a tank to an unlicensed. Every single property serviced by propane has the tank read before closing and then the propane remaining in the tank's worth is calculated by the propane company and shows as owed by the buyer to the seller and usually paid outside of close. The lease fee allows companies to recover the costs associated with providing your propane tank when usage falls below the required minimum. Propane tanks can be owned by the seller or leased to them by their propane provider. If the seller owns the tank, the tank will be sold to you with the home. It was noted on the property disclosure page of the contract. The charge for removal of standard above-ground tanks is $149. It is possible the company owned the tank at one point but sold it to the customer. It said if I wanted to continue using their tank, to fill out all this paperwork (which included a credit check requiring my social security number and more) and agree to the fees listed ($100/year leasing fee) and that no one could fill propane into their tank besides them. propane tank that is leased, however,">Purchased property with propane tank that is leased, however,. A 57 gallon above ground propane tank could cost $500-$700. These prices are WITHOUT the additional installation costs you will have. Reddit: Bought a house w/ propane tank 3 ">r/legaladvice on Reddit: Bought a house w/ propane tank 3. You may avoid this fee by enrolling in paperless billing in your MyAmeriGas account. REAL PROPERTY ISSUE: Can they take equipment (propane tank. With a purchased tank and regulator, you can shop around each time you get it filled, but most times, they will want an inspection fee (50.