Delaware Code Title 31 Sec. 4703 – Definitions
The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise:
(1) “Board of directors” or “board” means the board of directors of the land bank.
(2) “Foreclosing governmental unit” means any political subdivision of the State of Delaware, where such political subdivision has the power to cause the sale of real property located within its respective jurisdiction for the collection of liens inuring to that political subdivision.
(3) “Land bank” means a land bank established under this chapter and in accordance with the provisions of this chapter.
(4) “Large jurisdictional land bank” means a land bank established under this chapter and in accordance with the provisions of this chapter that serves one of the following:
a. An entire county.
b. A foreclosing governmental unit, or a combination of foreclosing governmental units that have formed a single land bank by intergovernmental agreement pursuant to § 4705(b) of this title, that in total covers an area with a population in excess of 30,000 persons.
(5) “Liens” means any lien set forth in § 2901(a)(1) of Title 25.
(6) “Vacancy rate” means the percentage of residential structures that have been uninhabited for 6 months or more within a given jurisdiction.
Terms Used In Delaware Code Title 31 Sec. 4703
- board: means the board of directors of the land bank. See Delaware Code Title 31 Sec. 4703
- Foreclosing governmental unit: means any political subdivision of the State of Delaware, where such political subdivision has the power to cause the sale of real property located within its respective jurisdiction for the collection of liens inuring to that political subdivision. See Delaware Code Title 31 Sec. 4703
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Land bank: means a land bank established under this chapter and in accordance with the provisions of this chapter. See Delaware Code Title 31 Sec. 4703
- Lien: A claim against real or personal property in satisfaction of a debt.
- Liens: means any lien set forth in § 2901(a)(1) of Title 25. See Delaware Code Title 31 Sec. 4703
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302