Delaware Code Title 6 Sec. 2575 – Cause of action
Current as of: 2023 | Check for updates
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The buyer shall not have a cause of action against the seller, agent and/or subagent for:
(1) Material defects in condition of the residential real property disclosed to the buyer prior to the buyer making an offer to purchase;
(2) Material defects developed after the offer was made but disclosed prior to final settlement, provided seller has complied with the agreement of sale; or
(3) Material defects which occur after final settlement.
Terms Used In Delaware Code Title 6 Sec. 2575
- 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
- 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. 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
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- 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. See Delaware Code Title 6 Sec. 2571