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Redemption Period After a Foreclosure Sale in Delaware Delaware law, though, doesn't provide a post-sale redemption period. But the borrower has up until the court confirms the foreclosure sale to pay off the full amount of the outstanding debt and keep the home. (Del.
Delaware taxes real estate transfers at 4% of the purchase price for the property being transferred. However, Delaware law has a provision that allows for the county where the property being sold to levy a real estate transfer tax of 1.5%.
Mortgage liens usually take priority over any other lien except tax liens.
In order for a deed to be valid and enforceable, it must be in writing; describe with specificity the property conveyed; specify the names of the grantor and grantee; be signed; be sealed; be acknowledged; and be delivered.
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.
In Delaware, liens that have been paid off or satisfied for any reason should be properly discharged by filing a lien release in the country registry of deeds or prothonotary office in the county where the lien was originally recorded.
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.
The Process of Transferring Property Identify the recipient or donee. Discuss the terms and conditions of the transfer with that person. Complete a change of ownership form. Change the title on the deed. Hire a real estate attorney to prepare the deed. Notarize and file the deed.