72 Pa. Stat. § 5860.702

Current through Pa Acts 2024-53, 2024-56 through 2024-111
Section 5860.702 - Powers and duties of bureau as agent

The property turned over to it, as provided in the preceding section, shall not be subject to redemption and until finally sold, as hereinafter provided, the bureau shall manage and control the property for the trustee county with power, (a) to lease the property for a period not exceeding one (1) year with the usual privilege of renewal on termination thereof upon three (3) months' notice, and any such lease may be on a royalty basis for the purpose of extracting any minerals or oil or the cutting of timber, (b) to make such repairs to the property as may be reasonably necessary to restore and maintain it in a tenantable condition, and to carry insurance on such property, (c) to advertise the property for sale or for rent, (d) to appoint an agent or agents who shall be a licensed real estate broker or agent to collect the rentals, and pay such agents the customary commissions for rent collection, (e) to harvest and sell the crops or produce of the property, (f) to sell any scrap or salvage resulting from repairs or alterations to buildings on the property or from the demolition of buildings no longer safe for occupancy, (g) to recover the cost of advertising, repairs, alterations or demolition of buildings, the harvesting of crops and the commissions of rental agents from the rental or sale of the property or any crops or salvage therefrom, and (h) to sell the property at private sale, to give options thereon and receive option money, and to make deeds for such property when sold in the manner provided by and subject to the provisions of sections 613 , 614 and 615 in so far as they may be applicable.

The bureau shall not in any case incur any expense for the maintenance, repair or alteration of any such property in excess of eighty per centum (80%) of the amount of rental to be received for such property within a period of one (1) year, under a lease entered into at or before the time such expense is incurred.

72 P.S. § 5860.702

1947, July 7, P.L. 1368, art. VII, § 702. As amended 1952, Jan. 18, P.L. (1951) 2098, § 6; 1956, May 29, P.L. (1955) 1814, § 1.