Pennsylvania Act 1927-474 — UNIFORM INTERPARTY AGREEMENT ACT

Act text

"UNIFORM INTERPARTY AGREEMENT ACT"
                  Act of May 13, 1927, P.L. 984, No. 474              Cl. 12
                                  AN ACT

     Relating to transactions between a person acting on his own
        behalf and the same person acting jointly with others, and to
        make uniform the law relating thereto.

        Section 1.  Be it enacted, &c., That a conveyance, release or
     sale may be made to, or by, two or more persons acting jointly,
     and one or more, but less than all of these persons, acting
     either by himself or themselves or with other persons, and a
     contract may be made between such parties. This section shall be
     construed as authorizing a conveyance of an interest in real
     property (1) by either husband or wife without the joinder of
     his or her spouse to husband and wife as tenants by the
     entireties, (2) by husband and wife as tenants by the entireties
     to either husband or wife alone, and (3) by either tenant by the
     entireties alone to the other without the other joining in the
     deed. All such conveyances and all conveyances authorized by
     this amendment made and executed after the passage of the act,
     approved the third day of June, one thousand nine hundred eleven
     (Pamphlet Laws 631), are hereby ratified and confirmed and
     declared valid.
        (1 amended Aug. 17, 1951 (1952), P.L.1275, No.303)
        Section 2.  No contract shall be discharged because, after
     its formation, the obligation and the right thereunder become
     vested in the same person, acting in different capacities as to
     the right and the obligation.
        Section 3.  Nothing herein shall validate a transaction
     within its  provisions which is actually or constructively
     fraudulent.
        Section 4.  Act Not Retroactive.--This act shall not apply to
     conveyances, releases, sales or contracts made prior to its
     effective date.
        Section 5.  Uniformity of Interpretation.--This act shall be
     so interpreted and construed as to effectuate its general
     purpose to make uniform the law of those states which enact it.
        Section 6.  Short Title.--This act may be cited as the
     Uniform Interparty Agreement Act.