§ 9116. Statement of authority as to real property.
(a) General rule.--An interest in real property held in the name of a nonprofit association may be transferred by a person authorized to do so in a statement of authority recorded by the nonprofit association in the office of the recorder of deeds for the county in which a transfer of the property would be recorded.
(b) Contents of statement.--The statement of authority must set forth:
(1) the name of the nonprofit association;
(2) the address in this Commonwealth, including the street and number, if any, of the nonprofit association or, if the nonprofit association does not have an address in this Commonwealth, its address outside of this Commonwealth;
(3) that the association is a nonprofit association; and
(4) the name, title or position of a person authorized to transfer an estate or interest in real property held in the name of the nonprofit association.
(c) Execution.--A statement of authority must be executed in the same manner as a deed by a person other than the person authorized in the statement to transfer the interest.
(d) Recording fee.--The recorder of deeds may collect a fee for recording a statement of authority in the amount authorized for recording a transfer of real property, but the mere recording of a statement of authority does not constitute a transfer of an interest in the real property for the purpose of the taxation of real property transfers.
(e) Changes.--A document amending, revoking or canceling a statement of authority or stating that the statement is unauthorized or erroneous must meet the requirements for executing and recording an original statement.
(f) Cancellation by operation of law.--Unless canceled earlier, a recorded statement of authority and its most recent amendment expire five years after the date of the most recent recording.
(g) Effect of filing.--If the record title to real property is in the name of a nonprofit association and a statement of authority is recorded in the office of the recorder of deeds for the county in which a transfer of the property would be recorded, the authority of the person named in the statement to transfer is conclusive in favor of a person that gives value without notice that the person lacks authority.
(July 9, 2013, P.L.476, No.67, eff. 60 days)
2013 Amendment. Act 67 added section 9116.
Section: Previous 9102 9103 9111 9112 9113 9114 9115 9116 9117 9118 9119 9120 9121 9122 9123 NextLast modified: October 8, 2016