§ 4307. Lien
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 12 Pa.C.S.A. Commerce and TradeEffective: September 6, 2022
Effective: September 6, 2022
12 Pa.C.S.A. § 4307
§ 4307. Lien
(b) Lien.--The lien runs with the land and that portion of the assessment under the assessment contract that has not yet become due is not eliminated by foreclosure of a property tax lien. Notwithstanding any other provision of law, the assessment cannot be accelerated or extinguished until fully repaid.
(f) Collection.--A municipality or county shall utilize the provisions under the act of July 7, 1947 (P.L. 1368, No. 542),1 known as the Real Estate Tax Sale Law, or the act of May 16, 1923 (P.L. 207, No. 153),2 referred to as the Municipal Claim and Tax Lien Law, to collect delinquent installments of assessments.
(g) Restrictions.--Program funds may not be used directly or indirectly to construct, renovate or improve a residential condominium, cooperative unit or any other type of owner-occupied residential unit. A property financed with an assessment that, upon conveyance to a third party, is no longer a qualifying commercial property shall have the assessment immediately discharged upon conveyance by the payment of the principal amount financed, accrued interest, other charges and any prepayment penalty.
Credits
2018, June 12, P.L. 198, No. 30, § 1, effective in 60 days [Aug. 13, 2018]. Amended 2022, July 7, P.L. 470, No. 43, § 4, effective in 60 days [Sept. 6, 2022].
12 Pa.C.S.A. § 4307, PA ST 12 Pa.C.S.A. § 4307
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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