Agreements made under seal in Pennsylvania are subject to a 20-year statute of limitations, which means that the party enforcing its agreement has up to 20 years from the date the agreement is violated to file an action against the company or individual in breach.
Previously, the 20-year statute of limitations for agreements under seal was set to expire on June 27, 2018. However, the Pennsylvania House and the Senate recently passed legislation repealing this sunset provision. As a result, once the legislation is signed into law by Governor Wolf, the statute of limitations applicable to documents under seal will remain 20 years.
For more information, please contact Justin Tuskan or another member of our Banking and Litigation groups.
This post was written by Justin Tuskan.