Delaware Property Transfer

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Commonly Asked Questions about Delaware Property Transfer

How do I avoid probate in Delaware?

In Delaware, you can make a living trust to avoid probate for virtually any asset you ownreal estate, bank accounts, vehicles, and so on. You need to create a trust document (its similar to a will), naming someone to take over as trustee after your death (called a successor trustee).

What is the right of survivorship in Delaware?

in joint names with the right of survivorship. Upon the death of the first joint tenant, the surviving joint tenant (co-owner) receives the property. This will happen regardless of any contra ry language in any Will and without the application of the intestate succession law if no Will exists.

Do all heirs have to agree to sell property Delaware?

So, do all heirs have to agree to sell the property in Delaware? No, but its ideal for all owners to be on the same page regarding the sale. In case of any conflict among the inheritors, a neutral third party, like a real estate attorney is appointed to facilitate decisions.

Does real estate go through probate in Delaware?

Whenever there is a death in New Castle County, an estate must be probated if: The decedent had more than $30,000 in personal property in his/her name alone, or. The decedent owned Delaware real estate in his/her name alone, either solely held or as a tenant in common.

How to transfer ownership of a car after a death in Delaware?

Visit the Delaware Division of Motor Vehicles (DMV) Original death certificate. Current vehicle title. Transfer fee. Drivers license. Odometer disclosure statement. Order from Probate Court to transfer the vehicle.

How much does it cost to transfer a deed in Delaware?

Transfer taxes in Delaware are 4% of the purchase price of the property, with 2.5% going to the state and 1.5% going to the county. Common practice is for the buyer and seller to split the transfer tax costs evenly, with both the buyer and seller paying 2%.

How do I transfer a deed after death in Delaware?

Unlike some states, Delaware does not currently allow the use of TOD deeds for real estate. Instead, other instruments such as joint tenancy or revocable living trusts are typically used to avoid probate when transferring real estate upon death.

How do I add a name to a deed in Delaware?

To change, add or remove a name on your deed a new deed needs to be recorded reflecting the change. Many people think they can come into the office and change the present recorded deed with a form, but that is not the case. Once a deed is recorded it cannot be changed.