2023 Pennsylvania Consolidated & Unconsolidated Statutes › Title 68 - REAL AND PERSONAL PROPERTY › Chapter 23 - Real Estate Foreclosure › Section 2303 - Definitions

§ 2303. Definitions.
The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise:
"Action for possession."
An action in ejectment initiated by a purchaser to take control of mortgaged property.
"Action to quiet title."
An action to resolve claims to title to a mortgaged property initiated by a creditor or purchaser.
"Creditor."
A person authorized to enforce an obligation secured by a mortgage or an authorized agent of the creditor, including a servicer.
"Foreclosure action."
An action initiated by a creditor to enforce a mortgage obligation.
"Former owner."
An owner or obligor, or a successor in interest of an owner or obligor, whose interest in a mortgaged property was foreclosed in an action of mortgage foreclosure, conveyed by a deed in lieu of foreclosure or divested by court order under a mortgage or other obligation, including a successor in interest or other person claiming rights under or through the owner or obligor.
"Mortgage."
A consensual interest in real property that secures an obligation.
"Mortgaged property."
Real property that is subject to a mortgage and improved with buildings or structures intended for any type of human occupancy, including a formerly mortgaged property conveyed to a purchaser at a sheriff's sale or pursuant to a deed in lieu of foreclosure.
"Municipal board of appeals."
The body designated to review decisions of a municipal code enforcement officer under the act of November 10, 1999 (P.L.491, No.45), known as the Pennsylvania Construction Code Act.
"Municipal code enforcement officer."
The official designated to administer and enforce building codes in a municipality designated under section 501 of the act of November 10, 1999 (P.L.491, No.45), known as the Pennsylvania Construction Code Act.
"Municipality."
A city, borough, township or incorporated town.
"Obligation."
A debt or other duty or liability of an obligor secured by a mortgage.
"Obligor."
A person that:
(1) owes payment or performance of an obligation;
(2) has signed a mortgage agreement with respect to mortgaged property; or
(3) is otherwise accountable in whole or in part for payment or performance of an obligation.
"Owner."
A person claiming the right to ownership, possession or use of a mortgaged property.
"Proceeding."
A foreclosure action, an action for possession or an action to quiet title relating to a mortgaged property.
"Property address."
The address of a mortgaged property, unless a different address is provided by the owner or obligor in mortgage documents for notification of the owner or obligor or in subsequent correspondence sent by the owner or obligor to change the address for notification specified for use in mortgage documents.
"Purchaser."
Any of the following:
(1) a person that acquires equitable title to a mortgaged property at a sheriff's sale conducted pursuant to a foreclosure or similar action and has paid settlement funds and delivered required documentation to the sheriff to obtain a sheriff's deed or the owner of a property under a recorded sheriff's deed to the property or the person's designee;
(2) the owner of a mortgaged property under a recorded sheriff's deed to the mortgaged property; or
(3) a person that takes title to a mortgaged property pursuant to a deed in lieu of foreclosure.
"Record."
As a noun, the term means information that is inscribed on a tangible medium or is stored in an electronic or other medium and is retrievable in perceivable form.
"Residential mortgaged property."
A mortgaged property located within this Commonwealth containing two or fewer residential units or on which two or fewer residential units are to be constructed, including a residential condominium, cooperative or planned community unit.
"Servicer."
A person that is responsible for servicing an obligation, including a person that holds or owns an obligation or originates a mortgage loan if the person also services the obligation.
"Vacant and abandoned property."
Property that meets the requirements for certification as provided under section 2305 (relating to requirements to certify mortgaged property as vacant and abandoned).
"Vacant property."
Mortgaged property with respect to which the owner and all persons claiming through the owner, including tenants, have relinquished possession. The term does not include unoccupied mortgaged property that is:
(1) undergoing construction, renovation or rehabilitation and that is proceeding with reasonable diligence to completion;
(2) physically secured and used or held for use by the homeowner as a vacation or seasonal home; or
(3) physically secured and the subject of a probate action or other litigation in which ownership is contested.