Delaware Code (Titles 8, 9, 25, 30)

25 Del. C. § 7067

Discharge of receiver; costs

# (a)

In addition to those situations described under § 7065 of this title, the receiver may also be discharged when all of the following have occurred:

# (1)

The condition or conditions alleged in the petition have been remedied.

# (2)

The property materially complies with all applicable provisions of any state or local statute, code, regulation, or ordinance governing the maintenance, construction, use, or appearance of the surrounding grounds.

# (3)

The costs of the above work and any other costs as authorized herein have been paid or reimbursed from the rents and profits of the property.

# (4)

The surplus money, if any, has been paid over to the owner.

# (b)

Upon paragraphs (a)(1) and (a)(2) of this section being satisfied, the owner, mortgagee, or any lienor may apply for the discharge of the receiver after paying to the latter all moneys expended by that receiver and all other costs which have not been paid or reimbursed from the rents and profits of the property.

# (c)

If the court determines that future profits of the property will not cover the cost of satisfying paragraphs (a)(1) and (a)(2) of this section, the court may discharge the receiver and order such action as would be appropriate in the situation, including but not limited to terminating the rental agreement; and may order the vacation of the mobile home park within a specified time. In no case shall the court permit repairs which cannot be paid out of the future profits of the property.

Amendment history

66 Del. Laws, c. 268, § 2; 70 Del. Laws, c. 186, § 1; 82 Del. Laws, c. 38, § 54

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