Pennsylvania Laws
Requirement to Record: Not required to be recorded.[1]
Expiration: Constructive notice does not expire by statute.
Maximum Term: There is no maximum term for a lease with an option to purchase.
No Duration: If no duration is set for the option, it will expire automatically with the lease.
Signing Requirements: Must be in writing and signed by the seller.[2]
Required Disclosures (1)
1. Lead-Based Paint Disclosure & EPA Pamphlet – Properties built before 1978 may have lead-based paint on the walls or ceiling. Their landlords are required to disclose this to new tenants.[3]
Seller’s Disclosures (1)
1. Seller’s Property Disclosure Statement – Sellers are required to complete this property disclosure and provide it to buyers before signing a purchase and sale agreement.[4]