§ 888.03 DEFINITIONS.
   For the purpose of this chapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
   ASSOCIATION. A partnership, limited partnership or any other form of unincorporated enterprise owned or conducted by two or more persons, other than a private trust or decedent’s estate.
   BOARD. The Board of Township Commissioners.
   CORPORATION. A corporation, joint-stock association, business trust or banking institution which is organized under the laws of the commonwealth, the United States or any other state, territory, foreign country or dependency.
   DISTRICT. Aston Township, Delaware County, Pennsylvania.
   DOCUMENT. Any deed, instrument or writing which conveys, transfers, demises or vests title to real estate, or confirms or evidences any transfer or demise of title to real estate, but does not include wills, mortgages, deeds of trust or other instruments of like character given as security for a debt and deeds of release thereof to the debtor; land contracts whereby the legal title does not pass to the grantee until the total consideration specified in the contract has been paid or until any cancellation thereof, unless the consideration is payable over a period of time exceeding 30 years; or instruments which solely grant, vest or confirm a public utility easement. DOCUMENT also includes a declaration of acquisition required to be presented for recording under § 888.08.
   FAMILY FARM CORPORATION.
      (1)   A corporation, at least 75% of the assets of which are devoted to the business of agriculture and at least 75% of each class of stock of which is continuously owned by members of the same family.
      (2)   The business of agriculture shall not be deemed to include:
         A.   Recreational activities, including, but not limited to, hunting, fishing, camping, skiing, show competition or racing;
         B.   The raising, breeding or training of game animals, game birds, fish, cats, dogs, pets or animals intended for use in sporting or recreational activities;
         C.   Fur farming;
         D.   Stockyard and slaughterhouse operations; or
         E.   Manufacturing or processing operations of any kind.
   MEMBERS OF THE SAME FAMILY. Any individual, such individual’s brothers and sisters, the brothers and sisters of such individual’s parents and grandparents, the ancestors and lineal descendents of any of the foregoing, a spouse of any of the foregoing and the estate of any of the foregoing. Individuals related by the half-blood or legal adoption shall be treated as if they were related by the whole-blood.
   PERSON. Every natural person, association or corporation. Whenever used in any clause prescribing and imposing a fine or imprisonment, or both, PERSON, as applied to associations, includes the responsible members or general partners thereof, and as applied to corporations, the officers thereof.
   REAL ESTATE.
      (1)   All lands, tenements or hereditaments within the township, including, without limitation, buildings, structures, fixtures, mines, minerals, oil, gas, quarries, spaces with or without upper or lower boundaries, trees and other improvements, immovables or interests which, by custom, usage or law, pass with a conveyance or land, but excluding permanently attached machinery and equipment in an industrial plant;
      (2)   Condominium units; or
      (3)   A tenant-stockholder’s interest in a cooperative housing corporation, trust or association under a proprietary lease or occupancy agreement.
   REAL ESTATE COMPANY. A corporation or association which is primarily engaged in the business of holding, selling or leasing real estate, and in which 90% or more of the interest is held by 35 or fewer persons, and which:
      (1)   Derives 60% or more of its annual gross receipts from the ownership or disposition of real estate; or
      (2)   Holds real estate, the value of which comprises 90% or more of the value of its entire tangible asset holdings, exclusive of tangible assets which are freely transferable and actively traded on an established market.
   TITLE TO REAL ESTATE.
      (1)   Any interest in real estate which endures for a period of time, the termination of which interest is not fixed or ascertained by a specific number of years, including, without limitation, an estate in fee simple, a life estate or a perpetual leasehold; or
      (2)   Any interest in real estate enduring for a fixed period of years, but which interest, either by reason of the length of the term or the grant of a right to extend the term by renewal or otherwise, consists of a group of rights approximately those of an estate in fee simple, a life estate or a perpetual leasehold, including, without limitation, a leasehold interest or possessory interest under a lease or occupancy agreement for a term of 30 years or more, or a leasehold interest or possessory interest in real estate in which the lessee has equity.
   TRANSACTION. The making, executing, delivering, accepting or presenting for recording of a document.
   VALUE.
      (1)   In the case of any bona fide sale of real estate at arm’s length for actual monetary worth, the amount of the actual consideration therefor, paid or to be paid, including liens or other encumbrances thereon existing before the transfer and not removed thereby, whether or not the underlying indebtedness is assumed; and ground rents, or a commensurate part thereof, where such liens or other encumbrances and ground rents also encumber or are charged against other real estate, provided that where such documents set forth a nominal consideration, the value thereof shall be determined from the price set forth in or actual consideration for the contract of sale;
      (2)   In the case of a gift, sale by execution upon a judgment or upon the foreclosure of a mortgage by a judicial officer, transactions without consideration or for consideration less than the actual monetary worth of the real estate, a taxable lease, an occupancy agreement, a leasehold or possessory interest, any exchange of properties, or the real estate of an acquired company, the actual monetary worth of the real estate determined by adjusting the assessed value of the real estate for local real estate tax purposes for the common level ratio factor developed by the State Department of Revenue for state realty transfer tax base calculations;
      (3)   In the case of an easement or other interest in real estate, the value of which is not determinable under subsections (1) or (2) above, the actual monetary worth of such interest; or
      (4)   The actual consideration for or actual monetary worth of any executory agreement for the construction of buildings, structures or other permanent improvements to real estate, between the grantor and other persons existing before the transfer and not removed thereby, or between the grantor or the agent or principal of the grantor of a related corporation, association or partnership and the grantee existing before or effective with the transfer.
(Ord. 613, passed 2-18-1987)