Bill Text: DE HB371 | 2009-2010 | 145th General Assembly | Draft
Bill Title: An Act To Amend Title 25 Of The Delaware Code Relating To Freedom Of Contract.
Spectrum: Moderate Partisan Bill (Democrat 6-1)
Status: (Passed) 2010-07-27 - Signed by Governor [HB371 Detail]
Download: Delaware-2009-HB371-Draft.html
SPONSOR: |
Rep. B. Short & Sen. DeLuca |
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Reps. Carson, Kovach, Mitchell, D.E. Williams; Sen. Katz |
HOUSE OF REPRESENTATIVES 145th GENERAL ASSEMBLY |
HOUSE BILL NO. 371 |
AN ACT TO AMEND TITLE 25 OF THE DELAWARE CODE RELATING TO FREEDOM OF CONTRACT. |
Section 1.Amend Title 25 of the Delaware Code, section 2119 by adding the following new subsection:
"(e) For purposes of this section, a mortgage or other instrument given for the purpose of creating a lien on real property shall mean a consumer purpose mortgage or other consumer purpose instrument given for the purpose of creating a lien.For purposes of this section, "consumer purpose mortgage" and "consumer purpose instrument given for the purpose of creating a lien" shall mean mortgages or other instruments given for the purpose of creating a lien encumbering one-to-four family residential properties, and shall not include mortgages or other instruments given for the purpose of creating a lien encumbering other multi-unit residential properties, such as apartment buildings, or encumbering office, commercial or industrial properties.".
Section 2.This Act shall be effective as of the date of its enactment
SYNOPSIS
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