CONVEYANCES. RECORDING OF DEEDS AND MORTGAGES.
AN ACT to amend 3224, Sec. 28, Chap. 92 of the Revised Code, approved October 19, A. D. 1914, entitled "Conveyances," relating to preferences of purchase money mortgages when duly recorded.
Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met:
Section 1. That 3224, Sec. 28, Chap. 92 of the Revised Code, approved October 19, A. D. 1914, entitled "Conveyances," be and it is hereby amended by striking out all of said Section and by the substitution in lieu thereof the following:
"3224, Sec. 28. PURCHASE MONEY MORTGAGES. PREFERENCE OF WHEN DULY RECORDED. TIME OF RECORDING. If lands or tenements be sold and one or more mortgages on the same, or any part thereof, be made by the purchaser to the vendor for securing the purchase money or any part thereof, and if such Mortgage or Mortgages be recorded within five days after the deed conveying such land or tenements from such vendor to such purchaser shall be recorded, the lien of said Mortgage or Mortgages on said lands or tenements or any part thereof shall have preference to and priority over any judgment against the mortgagor, or any other lien created or suffered by him, although such judgment, or lien, be of a date prior, to said Mortgage or Mortgages. And as between two or more such purchase money Mortgages on the same land, they shall have priority and preference according to the times that they are severally recorded in the proper office. Two or more such mortgages, recorded at the same time, shall have no preference or priority as between themselves.
Approved March 15, A. D. 1915.