Delaware Code Title 6 Sec. 2510 – Deceptive foreclosure practices
(a) No person shall make, use, or cause to be made or used a deceptive or fraudulent record, document, or statement in support of any foreclosure upon real property, including, without limitation, statements about the offering of a loan modification, the borrower’s history of payments, the validity of the assignment of the mortgage loan, the identity of the record holder of the mortgage loan, or the compliance with any other requirements of the Delaware Code or Superior Court rule.
Terms Used In Delaware Code Title 6 Sec. 2510
- Document: means :
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
- Person: means a natural person, partnership (whether general or limited), limited liability company, trust (including a common law trust, business trust, statutory trust, voting trust or any other form of trust), estate, association (including any group, organization, co-tenancy, plan, board, council or committee), corporation, government (including a country, state, county or any other governmental subdivision, agency or instrumentality), custodian, nominee or any other individual or entity (or series thereof) in its own or any representative capacity, in each case, whether domestic or foreign. See Delaware Code Title 6 Sec. 17-101
- real property: is synonymous with the phrase "lands, tenements and hereditaments. See Delaware Code Title 1 Sec. 302
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- State: means the District of Columbia or the Commonwealth of Puerto Rico or any state, territory, possession, or other jurisdiction of the United States other than the State of Delaware. See Delaware Code Title 6 Sec. 17-101
(b) The Attorney General shall have the same authority to enforce and carry out this section as is granted by Chapter 25 of Title 29 and by §§ 2511-2527 and 2531-2536 of this title.
(c) The Attorney General shall have the same authority to enforce and carry out this section as is granted by Chapter 25 of Title 29 and by §§ 2511-2527 and 2531-2536 of this title; however, this section shall not be enforced by a private cause of action under § 2525 or § 2533 of this title or otherwise.
(d) If a court or tribunal of competent jurisdiction finds that any person has wilfully violated this section, the Attorney General, upon petition to the court or tribunal, shall recover from the person, on behalf of the State, in addition to all costs, a civil penalty of not more than $10,000 per violation pursuant to § 2533 of this title. If the violation is against an elderly person or person with a disability, an additional civil penalty of not more than $10,000 per violation shall be recovered pursuant to § 2581 of this title. Each day that a wilful violation continues shall be considered a separate violation.
(e) For the purpose of this section, a “wilful violation” occurs when the party committing the violation knew or should have known that the party’s conduct was of the nature prohibited by this section.
(f) After confirmation of the foreclosure sale by Superior Court, title to real property sold to an innocent third-party purchaser for value at a foreclosure sale shall not be contested, clouded, or deemed to be unmarketable or uninsurable for title insurance based solely upon a violation of this section.