68 Pa.C.S. § 2101
Scope of chapter
This chapter relates to land banks.
Pennsylvania Consolidated Statutes Title 68 — REAL AND PERSONAL PROPERTY
Pennsylvania · statute · 68 Pa.C.S. · 331 active provisions
68 Pa.C.S. § 2102
Legislative findings and purpose
The General Assembly finds and declares that: (1) Strong communities are important to the social and economic vitality of this Commonwealth. Whether urban, suburban or rural, many communities are struggling to cope with vacant, abandoned and tax-delinquent properties. (2) Citizens of this Commonwealth are affected adve…
68 Pa.C.S. § 2103
Definitions
The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise: "Board." The board of directors of a land bank. "Department." The Department of Community and Economic Development of the Commonwealth. "Financial institution."…
68 Pa.C.S. § 2104
Creation and existence
(a) Authority.--Subject, in a city of the first class, to the home rule charter, a land bank jurisdiction may elect to create a land bank by the adoption of an ordinance to create a binding legal obligation. The ordinance must specify the following: (1) The name of the land bank. (2) The number of members of the board.…
68 Pa.C.S. § 2105
Board
(a) Membership.--A board shall consist of an odd number of members and be not less than five members nor more than 11 members. Unless restricted by the actions or agreements specified in section 2104 (relating to creation and existence) and subject to the limits stated in this section, the size of the board may be adju…
68 Pa.C.S. § 2106
Staff
(a) Employees.--A land bank may employ or enter into a contract for an executive director, counsel and legal staff, technical experts and other individuals and may determine the qualifications and fix the compensation and benefits of those employees. (b) Contracts.--A land bank may enter into a contract with a municipa…
68 Pa.C.S. § 2107
Powers
A land bank constitutes a public body, corporate and politic, exercising public powers of the Commonwealth necessary or appropriate to carry out this chapter, including the following powers: (1) To adopt, amend and repeal bylaws for the regulation of its affairs and the conduct of its business. (2) To sue and be sued i…
68 Pa.C.S. § 2108
Eminent domain
A land bank does not possess the power of eminent domain.
68 Pa.C.S. § 2109
Acquisition of property
(a) Title to be held in its name.--A land bank shall hold in its own name all real property it acquires. (b) Tax exemption.-- (1) Except as set forth in paragraph (2), the real property of a land bank and its income and operations are exempt from State and local tax. (2) Paragraph (1) does not apply to real property of…
68 Pa.C.S. § 2110
Disposition of property
(a) Public access to inventory.--A land bank shall maintain and make available for public review and inspection an inventory of real property held by the land bank. (b) Power.--A land bank may convey, exchange, sell, transfer, lease, grant or mortgage interests in real property of the land bank in the form and by the m…
68 Pa.C.S. § 2111
Financing of land bank operations
(a) General rule.--A land bank may receive funding through grants and loans from: (1) the Federal Government; (2) the Commonwealth; (3) a municipality; (4) the land bank jurisdiction which created the land bank; and (5) private sources. (b) Funding.--A land bank may receive and retain payments for services rendered, fo…
68 Pa.C.S. § 2112
Borrowing and issuance of bonds
(a) Authority.-- (1) A land bank may issue a bond for any of its corporate purposes. (2) The principal and interest of a bond shall be payable from the land bank's general revenue. (3) The bond may be secured by any of the following: (i) A pledge of revenue. This subparagraph includes a grant or contribution from: (A)…
68 Pa.C.S. § 2113
Public records and public access
(a) Public records.--A board shall keep minutes and a record of its proceedings. (b) Public access.--A land bank is subject to: (1) 65 Pa.C.S. Ch. 7 (relating to open meetings); and (2) the act of February 14, 2008 (P.L.6, No.3), known as the Right-to-Know Law.
68 Pa.C.S. § 2114
Dissolution of land bank
(a) General rule.--A land bank may be dissolved as a public body corporate and politic upon compliance with all of the following: (1) Sixty calendar days' advance written notice of consideration of a resolution to request dissolution must: (i) be given to the land bank jurisdiction which created the land bank; (ii) be…
68 Pa.C.S. § 2115
Conflicts of interest
(a) State Adverse Interest Act.--The acts and decisions of members of a board and of employees of a land bank shall be subject to the act of July 19, 1957 (P.L.1017, No.451), known as the State Adverse Interest Act. (b) Ethical standards.--Board members and land bank employees are subject to 65 Pa.C.S. Ch. 11 (relating…
68 Pa.C.S. § 2116
Construction, intent and scope
This chapter shall be construed liberally to effectuate the legislative intent and the purposes as complete and independent authorization for the implementation of this chapter, and all powers granted shall be broadly interpreted to effectuate the intent and purposes and not as a limitation of powers.
68 Pa.C.S. § 2117
Delinquent property tax enforcement
(a) Power to discharge liens and claims.-- (1) Except as set forth in paragraph (2), a land bank may, by resolution of the board, discharge a lien or claim to its real property for tax owed to the members of the land bank. (2) For a land bank to discharge a lien or claim to its real property under paragraph (1) for tax…
68 Pa.C.S. § 2118
Expedited quiet title proceedings
(a) Authorization.-- (1) A land bank may file an action to quiet title to real property in which the land bank has an interest. (2) A land bank may join in a single complaint to quiet title to one or more parcels of real property. (3) For purposes of an action under this section, the land bank shall be deemed to be the…
68 Pa.C.S. § 2119
Annual audit and report
The following shall apply: (1) The land bank shall annually, within 120 days after the end of the fiscal year, submit an audit of income and expenditures, together with a report of its activities for the preceding year, to the department. (2) A duplicate of the audit and the report shall be filed with the governing bod…
68 Pa.C.S. § 2120
Determination on procedural revision
If the department determines that comprehensive reform legislation on property-tax foreclosure has been enacted revising procedure under the statutory provisions referred to in section 2117 (relating to delinquent property tax enforcement), the department shall transmit notice of the determination to the Legislative Re…
68 Pa.C.S. § 2121
Exemption from realty transfer tax
A transfer of real property to or from a land bank shall be exempt from both the State and local realty transfer tax under Articles XI-C and XI-D of the act of March 4, 1971 (P.L.6, No.2), known as the Tax Reform Code of 1971, and section 301.1 of the act of December 31, 1965 (P.L.1257, No.511), known as The Local Tax…
68 Pa.C.S. § 2301
Short title of subchapter
This subchapter shall be known and may be cited as the Vacant and Abandoned Real Estate Foreclosure Act.
68 Pa.C.S. § 2302
Legislative findings and purpose
The General Assembly finds and declares that: (1) Vacant and abandoned real estate, coupled with a default in the obligation to make mortgage payments secured by that real estate, presents a danger to the health, safety and welfare of a community. (2) Vacant and abandoned real estate often is not repaired, restored and…
68 Pa.C.S. § 2303
Definitions
The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise: "Action for possession." An action in ejectment initiated by a purchaser to take control of mortgaged property. "Action to quiet title." An action to resolve cl…
68 Pa.C.S. § 2304
Certification of vacant and abandoned mortgaged property
(a) General rule.--After a creditor gives notice to an obligor of a delinquency or other default with respect to an obligation secured by a mortgage or initiates a foreclosure action or action for possession or to quiet title, a mortgaged property for which the notice is given or proceedings are initiated shall be cert…
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