Delaware Code Title 6 Sec. 3681 – Definitions
Current as of: 2023 | Check for updates
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As used in this subchapter:
(1) “Builder” means any individual, trustee, partnership, corporation, or other entity contracting with an owner for the construction of a new dwelling.
(2) “Buyer” means any individual, trustee, partnership, corporation, or other entity purchasing any estate or interest in a new dwelling.
(3) “New dwelling” means a new 1- or 2-family residential dwelling, not previously occupied, and constructed for residential use.
Terms Used In Delaware Code Title 6 Sec. 3681
- 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 1- or 2-family residential dwelling, not previously occupied, and constructed for residential use. See Delaware Code Title 6 Sec. 3681
- 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.
- Trustee: A person or institution holding and administering property in trust.