VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 36 — Stationary Storage Tanks

va-m26-7-ch12-t36

VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 36 — Stationary Storage Tanks.

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  authority: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 36 — Stationary Storage Tanks
  description: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 36 — Stationary Storage Tanks.
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obligations:
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    section: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 36 — Stationary Storage Tanks
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      authority: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 36 — Stationary Storage Tanks
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      paragraph_quote: '36. Stationary Storage Tanks Change Date March 28, 2019 • This chapter has been revised in its entirety. a. Distance Requirement If the property is located within 300 feet of an above-ground or subsurface stationary storage tank with a capacity of 1,000 gallons or more containing flammable or explosive material, the appraiser must report this information in the appraisal. This includes storage tanks for domestic and commercial uses as well as automotive service station tanks. b. Comparable Sales The appraiser should use comparable sales in similar locations, if available. c. NOV Requirement The SAR must include the information on the NOV, requiring the Veteran’s signed acknowledgement to ensure the Veteran is fully informed of the situation. VA Pamphlet 26-7, Revised Chapter 12: Minimum Property Requirements 12-45'

Verbatim regulatory text (1)

Verbatim provisions from VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 36 — Stationary Storage Tanks — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 36 — Stationary Storage Tanks

36. Stationary Storage Tanks Change Date March 28, 2019 • This chapter has been revised in its entirety. a. Distance Requirement If the property is located within 300 feet of an above-ground or subsurface stationary storage tank with a capacity of 1,000 gallons or more containing flammable or explosive material, the appraiser must report this information in the appraisal. This includes storage tanks for domestic and commercial uses as well as automotive service station tanks. b. Comparable Sales The appraiser should use comparable sales in similar locations, if available. c. NOV Requirement The SAR must include the information on the NOV, requiring the Veteran’s signed acknowledgement to ensure the Veteran is fully informed of the situation. VA Pamphlet 26-7, Revised Chapter 12: Minimum Property Requirements 12-45

Source: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 36 — Stationary Storage Tanks · source URL · snapshot 824171a914866a59