Delay compensation - 26 Pa. Cons. Stat. § 713

Legal Research Home > Pennsylvania Statutes

     § 713.  Delay compensation.
        (a)  General rule.--Compensation for delay in payment shall
     be paid at an annual rate equal to the prime rate as listed in
     the first edition of the Wall Street Journal published in the
     year, plus 1%, not compounded, from:
            (1)  the date of relinquishment of possession of the
        condemned property by the condemnee; or
            (2)  if possession is not required to effectuate
        condemnation, the date of condemnation.
        (b)  Exclusion.--
            (1)  No compensation for delay shall be payable with
        respect to funds paid on account or by deposit in court after
        the date of the payment or deposit.
            (2)  During the period the condemnee remains in
        possession after the condemnation:
                (i)  the condemnee shall not be entitled to
            compensation for delay in payment; and
                (ii)  the condemnor shall not be entitled to rent or
            other charges for use and occupancy of the condemned
            property by the condemnee.
        (c)  Award or judgment.--Compensation for delay shall not be
     included by the viewers or the court or jury on appeal as part
     of the award or verdict but shall, at the time of payment of the
     award or judgment, be calculated under subsection (a) and added
     to the award or judgment. There shall be no further or
     additional payment of interest on the award or verdict.

        Applicability.  Section 6(2) of Act 34 of 2006 provided that
     subsec. (a) shall apply to all periods of time after the
     effective date of section 6 with respect to condemnations
     effected prior to the effective date of section 6.
        Cross References.  Section 713 is referred to in section 521
     of this title.

Last modified: November 27, 2007