Sections
Subchapter I Definitions, Purpose and Powers 4001 – 4005
Subchapter II Delaware State Housing Authority 4010 – 4028
Subchapter III Housing Development Fund and Financing of Housing Developments 4030 – 4034
Subchapter IV Council on Housing 4040 – 4041
Subchapter V Delaware Housing Insurance Fund 4050

Terms Used In Delaware Code > Title 31 > Chapter 40

  • Amortization: Paying off a loan by regular installments.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Area: means the State. See Delaware Code Title 31 Sec. 4001
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Authority: means a public body corporate or politic, organized in accordance with Chapter 43 or 45 of this title for a purpose, with the powers and subject to the restrictions set forth in those chapters, including a community exercising the powers and duties of a slum clearance and redevelopment authority; provided however, that "Authority" shall not mean the Delaware State Housing Authority. See Delaware Code Title 31 Sec. 4001
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Bequest: Property gifted by will.
  • Community: means any municipality or county in this State. See Delaware Code Title 31 Sec. 4001
  • Community facilities: include lands, buildings and equipment for recreation or social assembly, for educational, health or welfare activities and other necessary utilities primarily for use and benefit of the occupants of housing accommodations to be constructed and operated under this chapter. See Delaware Code Title 31 Sec. 4001
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Council: means the State Council on Housing. See Delaware Code Title 31 Sec. 4001
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Director: means Secretary of the Department of Health and Social Services. See Delaware Code Title 29 Sec. 5519
  • DSHA: means the Delaware State Housing Authority created by § 4010 of this title. See Delaware Code Title 31 Sec. 4001
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Federal government: means the United States or any agency or instrumentality, corporate or otherwise, of the United States. See Delaware Code Title 31 Sec. 4001
  • Federal mortgage: means a mortgage loan for land development or for residential housing made by the United States or an instrumentality thereof to make such a mortgage loan. See Delaware Code Title 31 Sec. 4001
  • Federally insured mortgage: means a mortgage loan for land development or for residential housing insured or guaranteed by the United States or an instrumentality thereof, or a commitment by the United States or an instrumentality thereof to insure such a mortgage. See Delaware Code Title 31 Sec. 4001
  • Fiscal year: means , in the case of DSHA, a period of 12 calendar months beginning and ending on such dates as DSHA shall determine prior to the issuance of its bonds, notes or other obligations pursuant to this chapter, and in the case of the State, shall mean the fiscal year of the State as may at any time be provided by law. See Delaware Code Title 31 Sec. 4001
  • 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
  • Government: includes the State and federal governments and any subdivision, agency or instrumentality, corporate or otherwise, of either of them. See Delaware Code Title 31 Sec. 4001
  • Housing development: means living accommodations provided or to be provided pursuant to this chapter for 2 or more families by a housing sponsor. See Delaware Code Title 31 Sec. 4001
  • Housing development costs: means the sum total of all costs incurred in the development of a housing development, which are approved by DSHA as reasonable and necessary, which costs shall include, but are not necessarily limited to:

    a. See Delaware Code Title 31 Sec. 4001

  • Housing Director: means the Housing Director appointed pursuant to § 8603 of Title 29. See Delaware Code Title 31 Sec. 4001
  • Housing sponsor: means individuals, public bodies, joint ventures, partnerships, limited partnerships, trusts, firms, associations or other legal entities or any combination thereof, corporations, cooperatives and condominiums, approved by DSHA, as qualified, either to own, construct, acquire, rehabilitate, operate, manage or maintain a housing development whether nonprofit or organized for limited profit and subject to the regulatory powers of DSHA and other terms and conditions set forth in this chapter. See Delaware Code Title 31 Sec. 4001
  • Issuing officer: means the Housing Director. See Delaware Code Title 31 Sec. 4001
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: means any instrument which secures an obligation and constitutes a lien on real property or on a leasehold under a lease having a remaining term, at the time such mortgage is acquired, which does not expire for at least that number of years beyond the maturity date of the obligation secured by such mortgage as is equal to the number of years remaining until the maturity date of such obligation. See Delaware Code Title 31 Sec. 4001
  • Mortgage lender: means any bank or trust company, savings bank, national banking association, savings and loan association, Federal National Mortgage Association or Federal Home Loan Mortgage Corporation, approved mortgage banker, building and loan association or any insurance company authorized to transact business in the State. See Delaware Code Title 31 Sec. 4001
  • Mortgage loan: means an interest-bearing obligation secured by a mortgage, and a note or bond which is a first lien on land and improvements in the State constituting single family or multi-family units. See Delaware Code Title 31 Sec. 4001
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • Municipality: means any city, town or county in the State. See Delaware Code Title 31 Sec. 4001
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Obligee: includes any bondholder, agents or trustees for any bondholders or lessor demising to the property of DSHA used in connection with a project, or any assignee or assignees of such lessor's interest or any part thereof, and the federal government when it is a party to any contract with DSHA. See Delaware Code Title 31 Sec. 4001
  • Personal property: All property that is not real property.
  • Persons of low- or moderate-income: means persons or families who lack the amount of income which is necessary, as determined by DSHA or the local authority undertaking a project, to enable them without financial assistance to live in decent, safe and sanitary dwellings, without overcrowding. See Delaware Code Title 31 Sec. 4001
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Real property: includes all lands, including improvements and fixtures thereon, and property of any nature appurtenant thereto or used in connection therewith, and every estate, interest and right, legal or equitable, therein, including terms for years and liens by way of judgment, mortgage or otherwise and the indebtedness secured by such liens. See Delaware Code Title 31 Sec. 4001
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Subpoena: A command to a witness to appear and give testimony.
  • Trustee: A person or institution holding and administering property in trust.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • United States: includes its territories and possessions and the District of Columbia. See Delaware Code Title 6 Sec. 4307
  • Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 6 Sec. 4307