THE GENERAL ASSEMBLY OF PENNSYLVANIA
INTRODUCED BY FARNESE, BROWNE, FONTANA, COSTA, RAFFERTY, ERICKSON, FOLMER, BREWSTER, HUGHES, WOZNIAK AND FERLO, JUNE 30, 2011
REFERRED TO CONSUMER PROTECTION AND PROFESSIONAL LICENSURE, JUNE 30, 2011
Amending Title 68 (Real and Personal Property) of the
Pennsylvania Consolidated Statutes, in seller disclosures,
providing for notice of title insurance, legal representation
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Title 68 of the Pennsylvania Consolidated
Statutes is amended by adding a section to read:
§ 7304.1. Notice of title insurance, legal representation and
(a) General rule.--A form of notice of title insurance,
legal representation and liens that satisfies the requirements
of this chapter shall be promulgated by the commission. This
notice form shall be used in all residential real estate
transfers as provided in section 7302(a) (relating to
application of chapter).
(b) Use of form.--At the time an agreement of transfer is
entered by the buyer and seller under this chapter, the buyer
shall be provided with a notice of title insurance, legal
representation and liens. The notice shall be signed and dated
by the buyer and notarized.
(c) Contents of notice.--The notice shall include, at a
minimum, the following:
(1) An explanation in plain language of the risk of
purchasing real estate without title insurance or legal
representation, including the risks of fraud and assumption
of liens, judgments and other debts of prior owners.
(2) Information on the availability of legal services.
(3) Information on the proper State agency where
consumer-related questions concerning title insurance and
fraudulent conveyance may be directed.
(d) Delivery of form.--Copies of the executed and notarized
form shall be delivered to the seller and the buyer or the
buyer's agent within five days of execution and prior to final
settlement of a residential real estate transfer.
(e) Filing form with recorder of deeds.--The original notice
of title insurance, legal representation and liens executed by
the buyer shall be presented with the deed and any
acknowledgment filed with the recorder of deeds, registered and
recorded pursuant to applicable law.
(f) Notice provided by recorder of deeds.--
(1) If, prior to the time of filing a deed, the grantee
has not been provided with a notice as otherwise provided
under this section to file pursuant to subsection (e), the
recorder of deeds shall provide a notice to the grantee that
contains the information required by subsection (c). This
notice shall be signed and dated by the grantee or the person
filing the deed and filed with the recorder of deeds,
registered and recorded pursuant to applicable law.
(2) Within 30 days of the recording of any deed, the
office shall notify, by first class mail, the prior recorded
owner of the real estate identified in the deed, and the
occupant at the address of the real estate identified in the
deed if that address is different from the record owner's
address, that the deed has been recorded.
Section 2. This act shall take effect in 60 days.