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Current as of January 01, 2025 | Updated by Findlaw Staff
A. The sale by the secretary of any real property of an institution of which he is in possession as receiver, shall not affect any lien thereon, except that, in the case of a lien which would under the laws of the Commonwealth ordinarily be discharged by a judicial sale, the court in its order authorizing the sale, may prescribe that such lien shall be discharged by the sale. Whenever such liens are to be discharged by a sale, the secretary shall give notice of the sale to all creditors who appear, by the books of the institution or by the records of the county, or otherwise, to have or to claim to have such liens upon such property. The proceeds of the sale shall then take the place of the property sold and shall be distributed in the order prescribed by, and to the parties entitled to take under, the laws of the Commonwealth which relate to the discharge of liens by a judicial sale.
B. If real property is situated in a county other than that in which the institution is located, the court in which the certificate of possession is filed shall be the one empowered to issue the original order prescribing the discharge of liens. The procedure shall be the same as in the case of any other terms or conditions prescribed in its order for the sale of real property situated in another county.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 71 P.S. State Government § 733-719. Effect of sale upon liens - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-71-ps-state-government/pa-st-sect-71-733-719/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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