Section 338.5 - Information access in lieu of registration(a) Agreement.--The municipality and the recorder of deeds may enter into an agreement whereby the recorder of deeds shall compile and electronically transmit to the municipality or otherwise provide the municipality with electronic access to information regarding conveyances of real property.(b) Duty of municipality.--The municipality shall, as an amendment to an existing ordinance establishing its real estate registry or otherwise by the enactment of an ordinance:(1) Reference the existence of the agreement entered into pursuant to subsection (a).(2) Establish that the information obtained pursuant to the agreement shall be utilized to update and maintain the municipality's registry in lieu of registration pursuant to section 4 . (3) Establish that, as to transfers made after a specified date, an owner shall not be required to register a deed or conveyance with the municipality.(c) Sufficiency of information.-- The agreement may specify that any information periodically provided to the municipality in accordance with the act of May 17, 1945 (P.L. 624, No. 264), entitled, as amended, "An act requiring the recorder of deeds of every county, except counties of the second class, in certain cases to report transfers of property to the commissioners of townships of the first class and to supervisors of townships of the second class," or any other law, is sufficient for the purpose of this section.2008, Oct. 9, P.L. 1400, No. 110, §5, effective in 60 days [ 12/8/2008].