Pennsylvania Act 1947-322 — VALIDATING CERTAIN TITLES AGAINST ESCHEAT

Act text

VALIDATING CERTAIN TITLES AGAINST ESCHEAT
                 Act of Jun. 21, 1947, P.L. 756, No. 322              Cl. 28
                                  AN ACT

     Validating and quieting, against the right of escheat by this
        Commonwealth, the title to real estate in this Commonwealth
        held by or in trust for a corporation, chartered under the
        laws of this Commonwealth, but not authorized to hold the
        same, where, after said unauthorized holding, said real
        estate has been heretofore conveyed to a citizen of the
        United States, or to a corporation authorized under the laws
        of this Commonwealth to hold such real estate, and no
        inquisition has heretofore been instituted to escheat the
        same by reason of such unauthorized holding.

        The General Assembly of the Commonwealth of Pennsylvania
     hereby enacts as follows:

        Section 1.  Any real estate in this Commonwealth held by, or
     in trust for, a corporation, chartered under the laws of this
     Commonwealth, but not authorized under the laws of this
     Commonwealth to hold the same, and heretofore conveyed after
     said unauthorized holding to a citizen of the United States, or
     to a corporation authorized under the laws of this Commonwealth
     to hold the same, is hereby declared, where no inquisition has
     been heretofore instituted against the said real estate to
     escheat the same by reason of such unauthorized holding, to be
     free and clear of any right of escheat by this Commonwealth by
     reason of said unauthorized holding, and such citizen or
     corporation grantee, as aforesaid, and his or its respective
     heirs, successors and assigns shall in such case hold said real
     estate indefeasible as to any right of escheat by this
     Commonwealth by reason of said unauthorized holding.
        Section 2.  All acts or parts of acts inconsistent herewith
     are hereby repealed.