DE SB 34

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Description

This Act is a Substitute for SB 34 and differs from SB 34 in the following ways: • Moves the provision for lease termination to purchase a home from § 5314(b) of Title 25 to a new subsection (c) under §5314 of Title 25. • Does not make technical changes to § 5314(b) of Title 25. • Requires the tenant to give the landlord a signed agreement of sale at the same time the tenant gives the landlord notice of early lease termination to purchase a home. • Changes the notice a tenant is required to give for terminating a lease to purchase a home from 30 days to 60 days. • Clearly states that the lease terminates after the 60-day period. • Allows the landlord and tenant to agree to extend the 60-day period by signing a written agreement. • References that § 5514(c)(3) allows a landlord to deduct reasonable expenses, incurred in rerenting after early lease termination, from the tenant’s security deposit. This Act allows a tenant to terminate a rental agreement early if purchasing a home by providing 60 days' written notice to the landlord, along with a copy of the agreement of sale. The 60-day period begins on the first day of the month after the day the notice is given, but the landlord and tenant may agree to extend the lease termination date past the 60-day period by written agreement signed by the landlord and tenant. This Act also references that a landlord may deducting reasonable expenses incurred in rerenting the premises, up to 1 month’s rent, from the tenant’s security deposit as provided under § 5514(c)(3) of Title 25.