DE SB245 | 2019-2020 | 150th General Assembly
Status
Spectrum: Slight Partisan Bill (Democrat 8-3)
Status: Enrolled on June 25 2020 - 75% progression, died in chamber
Action: 2020-06-25 - Passed By House. Votes: 41 YES
Text: Latest bill text (Draft #1) [HTML]
Status: Enrolled on June 25 2020 - 75% progression, died in chamber
Action: 2020-06-25 - Passed By House. Votes: 41 YES
Text: Latest bill text (Draft #1) [HTML]
Summary
This Act amends the Real Estate Code to modernize the definition of purchase money mortgage under Delaware law to include lenders other than the seller of the mortgaged property who provide financing to purchase the property. Additionally, this Act extends the time period to record a purchase money mortgage from 5 days to 10 days and explicitly subordinates a mechanics lien under Chapter 27 of Title 25 to a purchase money mortgage.
Title
An Act To Amend Title 25 Of The Delaware Code Relating To Mortgages.
Sponsors
Roll Calls
2020-06-25 - House - House Third Reading (Y: 41 N: 0 NV: 0 Abs: 0) [PASS]
2020-06-23 - Senate - Senate Third Reading (Y: 21 N: 0 NV: 0 Abs: 0) [PASS]
2020-06-23 - Senate - Senate Third Reading (Y: 21 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2020-06-25 | Passed By House. Votes: 41 YES | |
| 2020-06-25 | Suspension of Rules in House | |
| 2020-06-23 | Assigned to Economic Development/Banking/Insurance & Commerce Committee in House | |
| 2020-06-23 | Passed By Senate. Votes: 21 YES | |
| 2020-06-23 | Suspension of Rules in Senate | |
| 2020-06-12 | Introduced and Laid on Table in Senate |
