As used in this subchapter, unless the context otherwise requires:

(1) “Agent” means any individual, partnership, corporation or trustee defined as a broker in § 2901 of Title 24, acting on behalf of a seller or buyer of residential real property.

(2) “Buyer” means any individual, partnership, corporation or trustee purchasing any estate or interest in real property.

(3) “Final settlement” means the time at which the parties have signed and delivered all papers and consideration to convey title to the estate or interest in residential real property being conveyed.

(4) “Residential real property” means any estate or interest in a manufactured housing lot or real property, improved by dwelling units for 1-4 families.

(5) “Seller” means any individual, partnership, corporation or trustee transferring residential real property.

(6) “Subagent” means any individual, partnership, corporation or trustee defined as a broker or sales person in § 2901 of Title 24 acting on behalf of an agent.

69 Del. Laws, c. 86, § ?2;

Terms Used In Delaware Code Title 6 Sec. 2571

  • Agent: means any individual, partnership, corporation or trustee defined as a broker in § 2901 of Title 24, acting on behalf of a seller or buyer of residential real property. See Delaware Code Title 6 Sec. 2571
  • Buyer: means any individual, partnership, corporation or trustee purchasing any estate or interest in real property. See Delaware Code Title 6 Sec. 2571
  • 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.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • 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.
  • Residential real property: means any estate or interest in a manufactured housing lot or real property, improved by dwelling units for 1-4 families. See Delaware Code Title 6 Sec. 2571
  • Seller: means any individual, partnership, corporation or trustee transferring residential real property. See Delaware Code Title 6 Sec. 2571
  • Trustee: A person or institution holding and administering property in trust.
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