PL 4620, SB 84 – Judicial Code (42 Pa.C.S.) - six months limitation and deficiency judgments (effective IMMEDIATELY)

PENNSYLVANIA GENERAL ASSEMBLY (2014)

SB 84, ACT 20, PL 46

AN ACT

Amending Title 42 (Judiciary and Judicial Procedure) of the Pennsylvania Consolidated Statutes, further providing for six months limitation and for deficiency judgments.

The General Assembly of the Commonwealth of Pennsylvania hereby enacts as follows:

Section 1.

Sections 5522(b)(2) and (6) and 8103(a), (b), (c) (3) and (5), (e), (f.1), (f.2) and (g) of Title 42 of the Pennsylvania Consolidated Statutes, amended or added by the act of November 24, 2004 (P.L.1243, No.152), amendment declared unconstitutional, 5 A.3d 353 (Pa. Superior 2010), stay granted retroactively to September 8, 2010 (Pa. Superior 2010), limited petition for allowance of appeal granted, 937 MAL 2010 (Pa. 2011), are reenacted to read

5522. Six months limitation.

* * *

(b) Commencement of action required.--The following actions and proceedings must be commenced within six months:

* * *

(2) A petition for the establishment of a deficiency judgment following execution and delivery of the sheriff's deed for the property sold in connection with the execution proceedings referenced in the provisions of section 8103(a) (relating to deficiency judgments).

* * *

(6) A petition for redetermination of fair market value pursuant to section 8103(f.1)(4) following execution and delivery of the sheriff's deed for the property sold in connection with the execution proceedings referenced under section 8103.

8103. Deficiency judgments.

(a) General rule.--Whenever any real property is sold, directly or indirectly, to the judgment creditor in execution proceedings and the price for which such property has been sold is not sufficient to satisfy the amount of the judgment, interest and costs and the judgment creditor seeks to collect the balance due on said judgment, interest and costs, the judgment creditor shall petition the court to fix the fair market value of the real property sold. The petition shall be filed as a supplementary proceeding in the matter in which the judgment was entered. If the judgment was transferred from the county in which it was entered to the county where the execution sale was held, the judgment shall be deemed entered in the county in which the sale took place.

(b) Effect of failure to give notice.--Any debtor and any owner of the property affected thereby, who is neither named in the petition nor served with a copy thereof or notice of the filing thereof as prescribed by general rule, shall be deemed to be discharged from all personal...