Home Table of Contents

§ 162. Property aliened in mortmain to escheat; proceedings

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 27 P.S. Escheats

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 27 P.S. Escheats (Refs & Annos)
Chapter 4. Escheat by Alienation in Mortmain (Refs & Annos)
Lands Held by Corporations Without License or Authority
27 P.S. § 162
§ 162. Property aliened in mortmain to escheat; proceedings
All property hereafter acquired and held by persons, corporations or associations, forbidden by this act to hold the same, or held contrary to the intent of this act, and all such hereafter acquired, and held beyond the limit prescribed as aforesaid by this act, shall escheat to this commonwealth, and upon the same being adjudged to have escheated, under proceedings in court by quo warranto in all respects as is provided by law in the case of the usurpation of any corporate franchise, the same shall be taken in possession and disposed of, and with the like compensation to the person or persons informing and procuring the inquisition as in cases of property escheated for defect of heirs: Provided, That no property now held, or hereafter lawfully acquired, shall afterwards become defeasible in title by reason of any subsequent rise in the value thereof; but such rise, after it shall occur, shall be taken into view to preclude a further acquisition and holding beyond the limit aforesaid: And provided, That the legislature may relieve upon such terms as may be deemed just and for the public good, from any forfeiture as aforesaid, upon the payment to the party informing or prosecuting his actual expenses, and such further reasonable compensation as the legislature may prescribe.

Credits

1855, April 26, P.L. 328, § 9.
27 P.S. § 162, PA ST 27 P.S. § 162
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document