§ 7915 — Amendment or termination by consent

(a) An environmental covenant may be amended or terminated by consent only if the amendment or termination is signed by:

(1) The Department Secretary;

(2) The current owner;

(3) Each person that originally signed the covenant unless:

a. The person waived the right to consent in a signed record;

b. The person fails to respond to a notice, requesting their consent to amendment or termination, delivered by certified mail to their last known address, as obtained from the U.S. Postal Service, within 45 days after delivery of such notice; or

c. Unless a court finds that the person no longer exists or cannot be located or identified with the exercise of reasonable diligence; and

(4) Except as otherwise provided in subsection (d) of this section, the holder.

(b) A person that subordinates its interest to an environmental covenant is not affected by an amendment of the covenant unless the person consents to the amendment or waives the right to consent to future amendments in a signed record.

(c) Except for an assignment undertaken pursuant to a governmental reorganization, assignment of an environmental covenant to a new holder is an amendment.

(d) Except as otherwise provided in the covenant:

(1) A holder may not assign its interest without consent of the other parties;

(2) A holder may be removed and replaced by agreement of the other parties specified in subsection (a) of this section; and

(3) A court of competent jurisdiction may fill a vacancy in the position of holder.

Legislative History

75 Del. Laws, c. 206, § 1