READ AND PASSED

The enacted ordinance adds rules for people who help property owners recover surplus funds left after a Sheriff’s sale. It requires a written, signed agreement filed with the Sheriff and Law Department before payment, and limits an agent’s fee to 15% of the surplus; violations can result in fines and legal claims by affected owners.

Amending Title 9 of The Philadelphia Code, entitled "Regulation of Businesses, Trades and Professions," by adding a new Chapter, entitled "Agents and Sheriff's Sales," specifying conditions under which any person may assist or act on behalf of another person in connection with the recovery of surplus funds due the owner upon completion of a Sheriff's sale of such owner's property; all under certain terms and conditions.