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Home Delaware Information
Delaware Information PDF Print E-mail
VESTING                  
  • The following tenancy types are recognized: Joint Tenancy(requires express language), Tenancy in Common(presumed), Tenancy by the Entireties                  
  • The non-titled spouse of real property is not required to sign the security instrument unless they held title prior to 12/25/74-however lenders may require spouses to sign                  
  • Acceptable instruments for transferring ownership on real property:Special Warranty Deed                  
          
RELEASE                  
  • Acceptable instruments to release mortgages: power of attorney to satisfy mortgage; the recorder of deeds may be named attorney-in-fact to satisfy mortgage. *(Statutory penalties if lender fails to cancel lien of record after secured debt is paid in full.)                  
          
POWER OF ATTORNEY                  
  • A Power of Attorney is acceptable                  
          
TAX DUE DATES                  
  • Property taxes are levied at various times, depending on county, and are due on Sept. 30th                  
  • Property taxes cannot be paid in installments                  
          
MORTGAGE/TRANSFER TAX                  
  • No Mortgage tax                  
  • There is a conveyance transfer tax( *2% State Realty Transfer Tax; 1% County or local municipality tax. The total tax is split evenly between the state and the county, city or town. The county tax only applies to land located in unincorporated areas).                  
          
SECURITY INSTRUMENT RECORDING REQUIREMENTS   
  • All original signatures must have names typed or printed under signature line                   
  • The address of each party is required to be shown in the document                  
  • Deeds may be acknowledged in any county                  
  • One witness is required and may be the notary                  
  • The name and address of the person preparing the instrument is required to appear on the document in the upper right hand corner of the first page                  
  • The preparer does not have to be an attorney                  
  • A transfer form is required and may be photocopied                  
  • Document to be recorded and must be under seal                  
  • Parcel number is required to be shown on the document                  
  • The only language presently required to acknowledge a deed properly is as follows: "sealed and delivered in the presence of _____."                  
  • The real estate tax index number is required to appear on the document                  
  • Adequate description of land, signature and seal of grantor is required                  
  • Competent grantor, grantee, consideration, the words "grant and convey".                  
  • Notary's seal/stamp is required to be impressed or imprinted                  
  • A corporate execution is required to be attested by the Secretary or Asst. Secretary of the Corporation. A corporate seal is required.                  
  • Return to address is required                  
          
WHO MAY SERVE AS TRUSTEE ON DEED OF TRUST                  
  • N/A                  
          
STATUTE OF LIMITATIONS                  
  • JUDGMENTS IN FAVOR OF U.S. - 20 Years                  
  • ALL OTHER JUDGMENTS - 10 Years                  
  • STATE OF DELAWARE TAX LIENS - 20 Years                  
  • FEDERAL TAX LIENS - 10 Years                  
  • MECHANICS LIEN - ***1 Year indefinite duration                  
  • ESTATE TAX - ***10 Years from date of death                  
          
          
          
 

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