Sections
Subchapter I General Provisions 2400B – 2404B
Subchapter II Foreclosure Consultants 2413B – 2415B
Subchapter III Foreclosure Reconveyances 2423B – 2426B
Subchapter IV Enforcement and Remedies 2427B – 2429B

Terms Used In Delaware Code > Title 6 > Chapter 24B

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Department: means the State of Delaware Department of Agriculture and includes, but is not limited to, its officers, inspectors, employees, agents or representatives. See Delaware Code Title 3 Sec. 1601
  • Forbearance: A means of handling a delinquent loan. A
  • 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
  • Grain: means includes, but is not limited to, corn, wheat, rye, oats, barley, flaxseed, sorghum, soybeans, mixed grain and any other food grains, feed grains, hemp, and oilseeds which standards have been established in the United States Grain Standards Act, 7 U. See Delaware Code Title 3 Sec. 1601
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Real Estate Settlement Procedures Act: Federal law that, among other things, requires lenders to provide "good faith" estimates of settlement costs and make other disclosures regarding the mortgage loan. RESPA also limits the amount of funds held in escrow for real estate taxes and insurance. Source: OCC
  • Remainderman: One entitled to the remainder of an estate after a particular reserved right or interest, such as a life tenancy, has expired.
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Venue: The geographical location in which a case is tried.