Delaware Code Title 31 Sec. 4406 – Discharge of custodian; costs
(a) In addition to those situations described in § 4404 of this title, the custodian may also be discharged when:
(1) The condition or conditions alleged in the petition have been remedied;
(2) The property materially complies with all applicable provisions of any state or local statute, code, regulation or ordinance governing the maintenance, construction, use or appearance of the surrounding grounds;
(3) The costs of the above work and any other costs as authorized herein have been paid or reimbursed from the rents and profits of the property; and
(4) The surplus money, if any, has been paid over to the owner.
Terms Used In Delaware Code Title 31 Sec. 4406
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
- Statute: A law passed by a legislature.
(b) Upon paragraphs (a)(1) and (2) of this section being satisfied, the owner, mortgagee or any lien or may apply for the discharge of the custodian after paying to the custodian all moneys expended by the custodian and all other costs which have not been paid or reimbursed from the rents and profits of the property.
(c) If the Court determines that future profits of the property will not cover the cost of satisfying paragraphs (a)(1) and (2) of this section, the Court may discharge the custodian and order such action as would be appropriate in the situation, including but not limited to terminating the rental agreement; and may order the vacation of the development within a specified time.