§ 6503. Nature of rights; subordination of interests
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 27 Pa.C.S.A. Environmental ResourcesEffective: February 19, 2008
Effective: February 19, 2008
27 Pa.C.S.A. § 6503
§ 6503. Nature of rights; subordination of interests
(c) Obligations.--An agency is bound by any obligation it assumes in an environmental covenant, but an agency does not assume obligations merely by signing an environmental covenant. Any person other than an agency that signs an environmental covenant is bound by the obligations the person assumes in the covenant, but signing the covenant does not change obligations, rights or protections granted or imposed under law other than this chapter except as provided in the environmental covenant.
(3) A subordination agreement may be contained in an environmental covenant covering real property or in a separate record. If the environmental covenant covers commonly owned property in a common interest community, the agreement or record may be signed by any person authorized by the governing board of the owners association.
(4) An agreement by a person to subordinate a prior interest to an environmental covenant affects the priority of that person's interest but does not by itself impose an affirmative obligation on the person with respect to the environmental covenant nor affect that person's existing environmental liability.
Credits
2007, Dec. 18, P.L. 450, No. 68, § 1, effective in 60 days [Feb. 19, 2008].
27 Pa.C.S.A. § 6503, PA ST 27 Pa.C.S.A. § 6503
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document |