Foreclosure Moratorium and Forbearance Period Extended

President Joe Biden recently announced an extension of the foreclosure moratorium and the forbearance period for mortgages backed by HUD, VA and USDA through June 30. Separately, the Federal Housing Finance Agency extended the foreclosure and eviction moratorium period until March 31, as well as forbearance period by three months for mortgages held by Fannie Mae and Freddie Mac.

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When a Sale Is Terminated, What Happens to That Inspection?

The Pennsylvania Seller Disclosure Law requires sellers to disclose known material defects of a residential property to potential buyers, but it does not matter how a seller learns of that material defect. This includes material defects identified through a buyer’s inspection when the transaction does not ultimately close. In this situation, the seller’s property disclosure must be updated.

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Trial Result Could Impact Pennsylvania Real Estate Activity

PAR has been tracking Ladd v. State Real Estate Commission since it was originally filed in 2018. Though the case had previously been dismissed by the Commonwealth Court, on May 19, 2020, the Pennsylvania Supreme Court issued a decision reviving the case and sending it back to proceed to trial. The final outcome of the case could impact the licensing requirement for those engaging in Pennsylvania real estate activity.

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Removing Unwanted Occupants

In Assouline v. Reynolds, the Court unanimously held the Landlord and Tenant Act cannot be used to remove an occupant when no landlord/tenant relationship existed.

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