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§ 631. Operation and effect of short form mortgage

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 21 P.S. Deeds and Mortgages

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 21 P.S. Deeds and Mortgages (Refs & Annos)
Chapter 2. Mortgages (Refs & Annos)
Recording of Mortgages (Refs & Annos)
21 P.S. § 631
§ 631. Operation and effect of short form mortgage
A short form mortgage shall be a lien against the real property described therein as of the date and time it is recorded, except that if the mortgage is a purchase money mortgage under the definition set forth in the act of June 28, 1951 (P.L. 927), known as the “Lien Priority Law,”1 it shall be a lien from the time it is delivered to the mortgagee if it is recorded within ten days after its date. When a short form mortgage incorporating by reference the provisions of a stipulation of general mortgage provisions is recorded, it shall have the same effect as any other mortgage instrument and the two recorded instruments together shall be construed to constitute one mortgage. The recording of a short form mortgage which incorporates by reference the provisions, covenants, conditions and obligations, set forth in a recorded stipulation of general mortgage provisions, shall operate as constructive notice of the whole thereof, the same as if the provisions incorporated by reference were set forth in full in the short form mortgage.

Credits

1959, June 2, P.L. 452, § 3. Amended 1968, Jan. 18, P.L. (1967) 951, No. 423, § 1.

Footnotes

42 Pa.C.S.A. § 8141 et seq.
21 P.S. § 631, PA ST 21 P.S. § 631
Current through Act 4 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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