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Chapter 25, Title 6 of the Delaware Code, requires a Seller of residential property to disclose in writing all material defects of the property that are known at the time the property is offered for sale or that are known prior to the time of final settlement.

In general, the following are excluded from the tax: leasehold interests; mortgage foreclosure sales; conveyances between husband and wife; conveyances between parent and child; conveyances to a religious organization; conveyances without consideration; conveyances between a parent corporation and a wholly owned ...

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%.

Many people hold real estate, bank accounts, motor vehicles and other property (stocks, bonds, etc.) 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.

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%.

Delaware law requires sellers of residential real property to provide a disclosure report to any potential buyer listing all the material defects that the seller is aware of. Residential real property means a manufactured housing lot or real property that has a residential dwelling for one to four families present.