68 Pa. Stat. § 1052

Current through Pa Acts 2024-53, 2024-56 through 2024-64

Section 1052 - Definitions

The following words and phrases when used in this act shall have the meanings given to them in this section unless the context clearly indicates otherwise:

"Broker." A person who is licensed under the laws of this Commonwealth to act as a real estate broker.

"Commercial real estate." Any real estate other than:

(1) Real estate containing one to four residential units.

(2) Real estate that is zoned for agricultural purposes and that is not subject to an agreement of sale contingent upon the rezoning of all or any portion of the real estate to provide for nonagricultural uses.

The term does not include single family residential units or building lots such as condominiums, townhouses or homes in a subdivision when sold, leased or otherwise conveyed on a unit-by-unit basis even though these units may be part of a larger building or parcel of real estate containing more than four residential units.

68 P.S. § 1052

1998, March 20, P.L. 199, No. 34, § 2, effective in 60 days.