Pennsylvania Act 1927-284 — LIEN OF MORTGAGES AND DEFEASIBLE DEEDS

Act text

LIEN OF MORTGAGES AND DEFEASIBLE DEEDS
                 Act of Apr. 27, 1927, P.L. 440, No. 284              Cl. 68
                                  AN ACT

     Relating to the lien of mortgages and defeasible deeds in the
        nature of mortgages; and protecting the lien of mortgages
        given by purchasers to sellers, if recorded within thirty
        days from the date of such mortgage.

        Compiler's Note:  Section 2 of Act 422 of 1967 provided that
            Act 284 is repealed insofar as it is inconsistent with
            Act 422.
        Section 1.  Be it enacted, &c., That from and after the
     passage of this act, all mortgages, or defeasible deeds in the
     nature of mortgages, made or to be made or executed for any
     lands, tenements, or hereditaments within this Commonwealth,
     shall have priority according to the date of recording the same,
     without regard to the time of making or executing such deeds;
     and it shall be the duty of the recorder to endorse the time
     upon the mortgages or defeasible deeds, when left for record,
     and to number the same according to the time they are left for
     record, and, if two or more are left upon the same day, they
     shall have priority according to the time they are left at the
     office for record. No mortgage, or defeasible deed in the nature
     of a mortgage, shall be a lien, until such mortgage or
     defeasible deed shall have been recorded, or left for record, as
     aforesaid. Any mortgage, given by purchaser to seller, for any
     part of the purchase money of the land so mortgaged, shall have
     a lien from the time of delivery of said mortgage, provided the
     same be recorded within thirty days from the date of the
     mortgage.