52 Pa. Code § 1059.5 - Application for sale of transferable rights
(a)
Application documents.
(1) To initiate a sale, the owner and
proposed buyer shall file an original and one copy of Form No. SA-1 "Sale
Application," the agreement of sale or transfer and other documents required by
this chapter. The proposed buyer will be considered the applicant. The SA-1 is
available at www.philapark.org/tld.
(2) The SA-1 shall be filed in person with
the Director.
(3) The Director will
refuse to accept an application which is incomplete for any reason.
(4) Upon acceptance, the Director will submit
a copy of the application documents to the Clerk and an application docket
number will be assigned.
(b)
Application signatures.
(1) Both parties to the sale shall execute
the SA-1 in the presence of the Director or a designee.
(2) Except for individuals, an original
executed and notarized resolution from the buyer and seller authorizing the
execution of the sale documents must be included with the filing of the
SA-1.
(3) The Authority may permit
an SA-1 to be executed by an attorney-in-fact if the owner or proposed buyer
are unable to appear and as provided in §
1001.28 (relating to power of
attorney), in which case the owner will be required to attend the closing on
the sale.
(c)
Verification and payment. The SA-1 must be verified under §
1001.36 (relating to verification
and affidavit) and be accompanied by payment of the transfer fee as provided in
§
§
1001.42 and
1001.43 (relating to mode of
payment to the Authority; and Authority fee schedule).
(d)
Multiple rights. The
SA-1 may be used to sell an unlimited number of transferable rights from one
owner to one proposed buyer.
(e)
Broker. Documents intended for submission to the Director as
part of the sale process must be prepared by a broker registered with the
Authority as provided in Chapter 1061 (relating to brokers) or an attorney
admitted to practice law by the Supreme Court of Pennsylvania.
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