SB 245

  • Delaware Senate Bill
  • 150th General Assembly (2019-2020)
  • Introduced in Senate Jun 23, 2020
  • Passed Senate Jun 23, 2020
  • Passed House Jun 25, 2020
  • Signed by Governor Sep 28, 2020

An Act To Amend Title 25 Of The Delaware Code Relating To Mortgages.


This Act amends the Real Estate Code to modernize the definition of purchase money mortgage under Delaware law to include lenders other than the seller of the mortgaged property who provide financing to purchase the property. Additionally, this Act extends the time period to record a purchase money mortgage from 5 days to 10 days and explicitly subordinates a mechanic’s lien under Chapter 27 of Title 25 to a purchase money mortgage. Finally, this Act makes technical corrections to conform existing language to the standards of the Delaware Legislative Drafting Manual. Specifically, the existing language of § 2108 of Title 25 is redrafted in § 2018(c) and (d) in this Act.

Bill Sponsors (11)


Jun 25, 2020

Jun 23, 2020


Sep 28, 2020

Office of the Governor

Signed by Governor

Jun 25, 2020


Suspension of Rules in House


Passed By House. Votes: 41 YES

Jun 23, 2020


Assigned to Economic Development/Banking/Insurance & Commerce Committee in House

  • Introduction
  • Referral-Committee
Economic Development/Banking/Insurance & Commerce


Suspension of Rules in Senate


Passed By Senate. Votes: 21 YES

Jun 12, 2020


Introduced and Laid on Table in Senate

Bill Text

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