§ 1109. Sale of property
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 68 P.S. Real and Personal PropertyEffective: December 22, 2014
Effective: December 22, 2014
68 P.S. § 1109
§ 1109. Sale of property
(2) The conservator has been in control of the building for more than three months and the owner has not successfully petitioned to terminate the conservatorship under section 10.1
(2) In the event that the proceeds of the sale are insufficient to pay all existing liens, claims and encumbrances, the proceeds shall be distributed according to the priorities set forth in subsection (d) and all unpaid liens, claims or encumbrances which have not been assumed under section 8(d)2 shall be extinguished.
(4.1) Costs incurred by the petitioner in preparing and filing the petition in accordance with the requirements of section 4.3
(5) Costs of rehabilitation and any fees and expenses incurred by the conservator in connection with the sale or the safeguarding of the property for which the lien authorized under section (5)(g)4 was filed.
(e) Owner's proceeds as unclaimed property.--In the event the owner cannot be located, any proceeds from the sale which belong to the owner shall be presumed to be abandoned and unclaimed and shall be subject to the custody and control of the Commonwealth pursuant to Article XIII.1 of the act of April 9, 1929 (P.L. 343, No. 176),5 known as The Fiscal Code.
Credits
2008, Nov. 26, P.L. 1672, No. 135, § 9, effective in 90 days [Feb. 24, 2009]. Amended 2014, Oct. 22, P.L. 2557, No. 157, § 5, effective in 60 days [Dec. 22, 2014].
68 P.S. § 1109, PA ST 68 P.S. § 1109
Current through the end of the 2023 Regular Session. Some statute sections may be more current, see credits for details.
End of Document |