Delaware Code > Title 6 > Chapter 24B – Foreclosure Consultants and Reconveyances
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Terms Used In Delaware Code > Title 6 > Chapter 24B - Foreclosure Consultants and Reconveyances
- Dam: shall mean any artificial barrier, including appurtenant works, with the ability to impound or divert water, wastewater, or liquid-borne materials. See Delaware Code Title 7 Sec. 4202
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Department: shall mean the Department of Natural Resources and Environmental Control. See Delaware Code Title 7 Sec. 4202
- Department: shall mean the Department of Natural Resources and Environmental Control. See Delaware Code Title 7 Sec. 4402
- Document: means :
- 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
- Foreclosure consultant: means a person who:
- Foreclosure consulting contract: means a written, oral, or equitable agreement between a foreclosure consultant and a homeowner for the provision of any foreclosure consulting service or foreclosure reconveyance. See Delaware Code Title 6 Sec. 2402B
- Foreclosure consulting service: includes :
- Foreclosure purchaser: means a person who acquires title or possession of a deed or other document transferring title to a residence in foreclosure as a result of a foreclosure reconveyance. See Delaware Code Title 6 Sec. 2402B
- Foreclosure reconveyance: means a transaction involving:
- Fraud: Intentional deception resulting in injury to another.
- Homeowner: means the record owner of a residence in default or a residence in foreclosure. See Delaware Code Title 6 Sec. 2402B
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Low hazard potential dam: shall mean any dam whose failure or misoperation is unlikely to cause loss of human life but may cause minor economic and/or environmental losses. See Delaware Code Title 7 Sec. 4202
- Maximum storage elevation: shall mean the elevation of the lowest point of the top of dam independent of low points caused by partial failure or collapse. See Delaware Code Title 7 Sec. 4202
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Oath: includes affirmation in all cases where an affirmation may be substituted for an oath, and "sworn" includes affirmed; and the forms shall be varied accordingly. See Delaware Code Title 1 Sec. 302
- Oath: A promise to tell the truth.
- Owner: shall include any of the following who own, control, operate, maintain, manage, or propose to construct, reconstruct, enlarge, repair, alter, remove or abandon a dam or reservoir: the State and its departments, institutions, agencies and political subdivisions; every municipal or quasi-municipal corporation; every public utility; every district; every person; the duly authorized agents, lessees, or trustees of any of the foregoing; and receivers or trustees appointed by any court for any of the foregoing. See Delaware Code Title 7 Sec. 4202
- Person: shall mean any person, firm, association, organization, partnership, business trust, corporation or company. See Delaware Code Title 7 Sec. 4202
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Primary housing expenses: means the total amount required to pay regular mortgage principal, mortgage interest, rent, utilities, hazard insurance, real estate taxes, and association dues on a property. See Delaware Code Title 6 Sec. 2402B
- Remainderman: One entitled to the remainder of an estate after a particular reserved right or interest, such as a life tenancy, has expired.
- Resale: means a bona fide market sale of property subject to a foreclosure reconveyance by the foreclosure purchaser to an unaffiliated third party. See Delaware Code Title 6 Sec. 2402B
- Reservoir: shall mean any basin that contains or will contain impounded water, wastewater, or liquid-borne materials by virtue of its having been impounded by a dam. See Delaware Code Title 7 Sec. 4202
- Residence in default: means residential real property consisting of not more than 4 single-family dwelling units, 1 of which is occupied by the owner as the individual's principal place of residence, and on which the mortgage is at least 60 days in default. See Delaware Code Title 6 Sec. 2402B
- Residence in foreclosure: means residential real property consisting of not more than 4 single-family dwelling units, 1 of which is occupied by the owner as the individual's principal place of residence, and against which any type of foreclosure action has been filed. See Delaware Code Title 6 Sec. 2402B
- Secretary: shall mean the Secretary of the Department of Natural Resources and Environmental Control. See Delaware Code Title 7 Sec. 4402
- Secretary: shall mean the Secretary of the Department of Natural Resources and Environmental Control. See Delaware Code Title 7 Sec. 4202
- Settlement: means an in-person, face-to-face meeting with the homeowner to complete final documents incident to the sale or transfer of real property, or the creation of a mortgage or equitable interest in real property, conducted by a settlement agent who is not employed by, or an affiliate of, the foreclosure purchaser, during which the homeowner must be presented with a completed copy of the HUD-1 Settlement form. See Delaware Code Title 6 Sec. 2402B
- State: shall mean the State of Delaware. See Delaware Code Title 7 Sec. 4402
- State: means the District of Columbia or the Commonwealth of Puerto Rico or any state, territory, possession, or other jurisdiction of the United States other than the State of Delaware. See Delaware Code Title 6 Sec. 17-101
- State: shall mean the State of Delaware. See Delaware Code Title 7 Sec. 4202
- Supervising engineer: shall mean the design engineer who is responsible for conducting dam construction quality assurance inspections in order to certify the construction has been completed in accordance with the approved plans and specifications. See Delaware Code Title 7 Sec. 4202
- Venue: The geographical location in which a case is tried.