On June 10, 2015, House Bill 341 (the “Bill”) passed both the Pennsylvania Senate and House of Representatives. The Bill amends the Pennsylvania Seller’s Disclosure Law by adding additional mandatory disclosure requirements for storm water related issues. Specifically, sellers of residential property must now disclose the following when completing the Seller’s Disclosure: “Soils, drains, boundaries, and sinkholes”; and the “Condition, if known, and the location of all storm water facilities, including a statement disclosing whether ongoing maintenance of the storm water facilities is the responsibility of the property owner or the responsibility of another person or entity.” The Bill was presented to Governor Wolf on June 11, 2015 for signature. If signed, the Bill will take effect immediately, adding one more item sellers are required to disclose to potential purchasers. If you have any questions about the Bill or any real estate matter in general, contact an attorney in Stock and Leader’s Real Estate Group.
May 19, 2020
by Peter T. Ruth