Delaware Code Title 25 Sec. 6307 – Release of distrained property upon filing of bond
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Upon the filing of a bond with surety with the Court where the distress action is pending, the Court may release from the levy and return, or release from the levy or return, the property to the tenant. The bond shall be in an amount not exceeding the fair market value of the goods levied as determined by the Court or the amount of rent in arrears plus 2 months’ rent, whichever is less.
25 Del. C. 1953, § ?6307; 58 Del. Laws, c. 472, § ?1;
Terms Used In Delaware Code Title 25 Sec. 6307
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.