Statutes, codes, and regulations
Delaware Code
Title 31 - WELFAREPart III - HOUSING AND SLUM CLEARANCEChapter 40 - THE DELAWARE STATE HOUSING AUTHORITY
Subchapter II - DELAWARE STATE HOUSING AUTHORITY
Section 4025 - Subordination of mortgage to agreement with government

Del. Code tit. 31 § 4025

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Current through 2024 Legislative Session Act Chapter 531
Section 4025 - Subordination of mortgage to agreement with government

DSHA may agree in any mortgage made by it that such mortgage shall be subordinate to a contract for the supervision by a government of the operation and maintenance of the mortgaged property and the construction of improvements thereon. In such event, any purchase or purchasers at a sale of the property of DSHA pursuant to a foreclosure of such mortgage or any other remedy in connection therewith shall obtain title subject to such contract.

31 Del. C. § 4025

71 Del. Laws, c. 357, § 6.;