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Long-Term Leases In PA
In a case decided on Oct. 17, 2016, the Commonwealth Court of Pennsylvania rejected a long-standing position taken by the Pennsylvania Department of Revenue dealing with when renewal periods must be added to the initial term of a lease for realty transfer tax purposes.
The Law
For purposes of the Pennsylvania realty transfer tax, a lease or occupancy agreement for a term of 30 years or more is considered “title to real estate” and is therefore a “document” subject to realty transfer tax. The transfer tax statute provides that “in determining the term of a lease, it shall be presumed that a right or option to renew or extend a lease will be exercised if the rental charge to the lessee is fixed or if a method for calculating the rental charge is established.”
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