Terms Used In Delaware Code > Title 25 > Chapter 25 - Mortgaging of Leasehold Interests

• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appraisal: A determination of property value.
• Appraisal: shall mean an analysis, opinion, or conclusion relating to the nature, quality, value, or utility of specified interests in, or aspects of, identified real estate as of a specific date. See Delaware Code Title 24 Sec. 4002
• Appraisal management company: means a corporation, partnership, sole proprietorship, subsidiary or other business entity that directly or indirectly performs appraisal management services, regardless of the use of the term "appraisal management company" "mortgage technology provider" "lender processing services" "lender services" "loan processor" "mortgage services" "real estate closing services provider" "settlement services provider" "vendor management company" or any other term, and that does any of the following:

  a. See Delaware Code Title 24 Sec. 4002

• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Council: shall mean the State Council on Real Estate Appraisers established in this chapter. See Delaware Code Title 24 Sec. 4002
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Person: shall mean an individual, firm, partnership, corporation, association, joint stock company, limited partnership, limited liability company, and any other legal entity and includes a legal successor of those entities. See Delaware Code Title 24 Sec. 4002
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• State: shall mean the State of Delaware. See Delaware Code Title 24 Sec. 4002
• Substantially related: shall mean the nature of the criminal conduct for which the person was convicted, has a direct bearing on the fitness or ability to perform 1 or more of the duties or responsibilities necessarily related to the practice of real estate appraisal. See Delaware Code Title 24 Sec. 4002