As used in this subchapter:

(1) “Buyer” means any individual, partnership, corporation or trustee purchasing any estate or interest in a new residential real property or new dwelling.

(2) “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 a new residential real property or new dwelling.

(3) “New dwelling” means a new multi-family, single family or townhouse dwelling not previously occupied and constructed for use as a residence.

(4) “New residential real property” means any estate or interest in real property improved by a new dwelling not previously occupied and constructed for use as a residence.

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

(6) “Unfinished work” means a condition in a new residential real property or new dwelling which fails to comply with the work agreed upon by the vendor and/or seller in the specifications, contract terms and applicable building codes.

(7) “Vendor” means any person, firm, partnership, corporation or other entity that contracts to sell new dwellings or new residential real property.

70 Del. Laws, c. 355, § ?1;

Terms Used In Delaware Code Title 6 Sec. 3601

  • Contract: A legal written agreement that becomes binding when signed.
  • 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.
  • New dwelling: means a new multi-family, single family or townhouse dwelling not previously occupied and constructed for use as a residence. See Delaware Code Title 6 Sec. 3601
  • New residential real property: means any estate or interest in real property improved by a new dwelling not previously occupied and constructed for use as a residence. See Delaware Code Title 6 Sec. 3601
  • 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.
  • Seller: means any individual, partnership, corporation or trustee transferring new residential property or a new dwelling. See Delaware Code Title 6 Sec. 3601
  • Trustee: A person or institution holding and administering property in trust.
  • Vendor: means any person, firm, partnership, corporation or other entity that contracts to sell new dwellings or new residential real property. See Delaware Code Title 6 Sec. 3601
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