PRINTER'S NO. 1638
No. 1209 Session of 2007
INTRODUCED BY McILHINNEY, RAFFERTY, WASHINGTON, COSTA, WOZNIAK
AND KITCHEN, DECEMBER 10, 2007
REFERRED TO URBAN AFFAIRS AND HOUSING, DECEMBER 10, 2007
AN ACT
1 Amending Title 68 (Real and Personal Property) of the
2 Pennsylvania Consolidated Statutes, further providing for
3 purchaser's right to cancel.
4 The General Assembly of the Commonwealth of Pennsylvania
5 hereby enacts as follows:
6 Section 1. Section 5406(c) of Title 68 of the Pennsylvania
7 Consolidated Statutes is amended to read:
8 § 5406. Purchaser's right to cancel.
9 * * *
10 (c) Penalty for noncompliance by declarant.--If a declarant
11 fails to provide a purchaser to whom a unit is conveyed with a
12 public offering statement and all amendments thereto as required
13 by subsection (a), the purchaser, in addition to any other
14 relief, is entitled to receive from the declarant an amount
15 equal to 5% of the sales price of the unit [up to a maximum of
16 $2,000] or actual damages, whichever is the greater amount. A
17 minor omission or error in the public offering statement or an
18 amendment thereto that is not willful shall entitle the
1 purchaser to recover only actual damages, if any.
2 Section 2. This act shall take effect in 60 days.
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