{"data":{"id":"us-pa/68-pa.c.s.-3408","jurisdiction":"us-pa","citation":"68 Pa.C.S. § 3408","heading":"Escrow of deposits.","body":"Any deposit (which shall not include any installment payment under an installment sales contract nor payments specifically stated in a sales contract to be in payment of or on account of extras, changes or custom work) made in connection with the purchase or reservation of a unit from a declarant shall be placed in escrow and held in this Commonwealth by a licensed real estate broker, an attorney admitted to practice in this Commonwealth, a financial institution or a licensed title insurance company, in an account, or in the form of a certificate of deposit, designated solely for that purpose with a financial institution whose accounts are insured by a governmental agency or instrumentality until:\n(1) delivered to the declarant at closing, or in the case of the sale of a unit pursuant to an installment sales contract, upon the expiration of 30 days from the date of occupancy of the unit;\n(2) delivered to the declarant because of purchaser's default under a contract to purchase the unit; or\n(3) refunded to the purchaser.","path":["Title 68 - REAL AND PERSONAL PROPERTY","PART II REAL PROPERTY","SUBPART B CONDOMINIUMS","CHAPTER 34 PROTECTION OF PURCHASERS"],"source_url":"https://www.palegis.us/statutes/consolidated/view-statute?txtType=HTM\u0026ttl=68\u0026div=0\u0026chpt=34\u0026sctn=8\u0026subsctn=0","current_through":"2026-07-28 (Statute Update stamp, 68 Pa.C.S.)","vintage":"","retrieved_at":"2026-09-02T16:35:13Z","sha256":"dd0d083cc881e940c2aa5bce1df98a47c534e6ad72607909bf729109cdb89a22","source_id":"us-pa","stale":false,"prev":"us-pa/68-pa.c.s.-3407","next":"us-pa/68-pa.c.s.-3409"},"notice":"GroundRules: Original legal text. Not legal advice."}