PRINTER'S NO. 1715
No. 1479 Session of 1981
INTRODUCED BY BROWN, NOYE, CAWLEY, PISTELLA, WHITE, PERZEL,
GANNON, PRATT, MORRIS, CIVERA AND BLAUM, JUNE 1, 1981
REFERRED TO COMMITTEE ON BUSINESS AND COMMERCE, JUNE 1, 1981
AN ACT
1 Amending the act of April 6, 1951 (P.L.69, No.20), entitled "An
2 act relating to the rights, obligations and liabilities of
3 landlord and tenant and of parties dealing with them and
4 amending, revising, changing and consolidating the law
5 relating thereto," providing for the transfer of tenants'
6 escrow funds when residential rental property is transferred.
7 The General Assembly of the Commonwealth of Pennsylvania
8 hereby enacts as follows:
9 Section 1. The act of April 6, 1951 (P.L.69, No.20), known
10 as "The Landlord and Tenant Act of 1951," is amended by adding a
11 section to read:
12 Section 511.4. Transfer of Escrow Funds.--Whenever title to
13 residential rental property is transferred and the prior owner
14 required security deposits pursuant to section 511.1, it shall
15 be the duty and responsibility of the owner acquiring such
16 residential rental property to obtain from the prior owner all
17 security deposits with accumulated interest on such deposits.
18 Until such time as the new owner obtains such security deposits
19 and accumulated interest, the new owner shall not collect any
1 new or additional security deposits from any tenants in the
2 transferred residential rental property.
3 Section 2. This act shall take effect immediately.
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