Pennsylvania Act No. 129 of 2012 (effective September 4, 2012), amended the Landlord and Tenant Act of 1951 to provide for the disposition of personal property deemed abandoned by a tenant. The Pennsylvania legislature has returned to this subject with Pennsylvania Act No. 167 of 2014 (effective December 21, 2014). Under the prior law, there … Continue Reading
Landlords and secured lenders (i.e., lenders with a security interest in tenant’s personal property as collateral for a large loan) should remember to consider underlying applicable state law governing removal of a defaulted tenant’s property when negotiating landlord waivers or collateral access agreements. Competing interests are at play between landlords and secured lenders when it … Continue Reading