42 Pa. C.S. § 8144

Current through Pa Acts 2024-53, 2024-56 through 2024-92
Section 8144 - Mortgages to secure certain advances

In addition to any other indebtedness, a mortgage may secure unpaid balances of advances made, with respect to the mortgaged premises, for the payment of taxes, assessments, maintenance charges, insurance premiums or costs incurred for the protection of the mortgaged premises or the lien of the mortgage, expenses incurred by the mortgagee by reason of default by the mortgagor under the mortgage or advances made under a construction loan to enable completion of the improvements for which the construction loan was originally made, if such mortgage states that it shall secure such unpaid balances. A mortgage complying with this section is a lien on the premises described therein from the time the mortgage is left for record or the time of delivery to the mortgagee of a purchase money mortgage which is recorded within ten days after its date for the full amount of the unpaid balances of such advances that are made under the mortgage, plus interest thereon, regardless of the time when the advances are made.

42 Pa.C.S. § 8144

1990, Oct. 12, P.L. 525, No. 126, § 1, effective in 60 days.