Section 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.

Notation

Cross References

This section cited in 52 Pa. Code § 1001.71 (relating to notice and filing of copies of pleadings before other tribunals); 52 Pa. Code § 1051.7 (relating to facility inspections); and 52 Pa. Code § 1059.4 (relating to agreement of sale).