This Amendment adds a requirement that the tenant provide proof that the tenant has paid any deposit as required by the agreement of sale, when providing notice of early termination to purchase a home.

Plain English Breakdown

Checked against official source text during the last sync.

Tenant Must Show Proof of Deposit Payment

This amendment requires tenants to provide proof that they have paid any required deposit when giving notice to end their agreement to buy a house early.

What This Bill Does

• Adds a rule for tenants who want to stop buying a home before the agreed time.
• Requires these tenants to show proof of paying any deposits needed by the sale agreement.
• This proof must be given along with the notice that they are ending their purchase agreement.

Who It Names or Affects

• Tenants who have agreements to buy homes and want to end those agreements early.
• Home sellers involved in these transactions.

Terms To Know

Tenant

A person who rents or has an agreement to buy a home from another person.

Deposit

Money paid as part of the total cost when buying something, often kept if the deal is canceled.

Limits and Unknowns

• The bill does not specify what happens if tenants do not provide proof.
• It's unclear how this will affect existing home purchase agreements.

Official Summary Text

This Amendment adds a requirement that the tenant provide proof that the tenant has paid any deposit as required by the agreement of sale, when providing notice of early termination to purchase a home.

Current Bill Text

Legislation Document

SPONSOR:

Sen. Brown

DELAWARE STATE SENATE

153rd GENERAL ASSEMBLY

SENATE AMENDMENT NO. 1

TO

SENATE SUBSTITUTE NO. 1

FOR

SENATE BILL NO. 34

AMEND Senate Substitute No. 1 for Senate Bill No. 34 on line 7 by deleting "

sale.

" after "

of

" therein and inserting in lieu thereof "

and proof that the tenant has paid any deposit required by the agreement of sale.

".

SYNOPSIS

This Amendment adds a requirement that the tenant provide proof that the tenant has paid any deposit as required by the agreement of sale, when providing notice of early termination to purchase a home.

Author: Senator Brown