– Pennsylvania requires a number of formalities be met in order for the transaction to be enforceable. First, all sales agreements are required to be in writing and signed by the parties. The writing requirement is an age-old requirement established by the Statute of Frauds (33 P.S. § 1). Pursuant to the Deeds and Mortgage statutes, conveyances (deeds) must contain certain information and be recorded in the office of the Recorder of Deeds for the county in which the property is located.
Pennsylvania law also imposes other requirements. For example, in a residential transaction, a seller is required under the Real Estate Seller Disclosure Law to provide a Disclosure Form divulging all material defects of which the seller has knowledge (68 Pa. C.S. § 7301, et seq
.). Other rights may be found in the Home Inspection Law (68 Pa. C.S. § 7501, et seq
.). A federal law known as the Real Estate Settlement Procedures Act (RESPA) also applies to residential transactions (12 U.S.C. § 2601, et seq