Delaware Code Title 12 Sec. 3951 – Sale of real estate owned by a person with a disability
(a) If the guardian of the property of a person with a disability wishes to sell real estate owned by the person with a disability, then the guardian shall apply to the Court of Chancery for the authority to sell the property. For purposes of this section, the term “real estate” shall encompass any ownership interest in real estate, including, but not limited to real estate held in fee simple, in severalty, as a joint tenancy, as a tenant in common, as a tenant in possession, or as a reversionary or remainder interest.
Terms Used In Delaware Code Title 12 Sec. 3951
- Appraisal: A determination of property value.
- Court: means the Court of Chancery. See Delaware Code Title 12 Sec. 39A-101
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Guardian: is a "guardian of the person" as that term is used in this title. See Delaware Code Title 12 Sec. 39A-101
- Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Party: means the respondent, petitioner, guardian, conservator, or any other person allowed by the Court to participate in a guardianship or protective proceeding. See Delaware Code Title 12 Sec. 39A-101
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Trustee: A person or institution holding and administering property in trust.
(b) The guardian shall give notice of the application to all potentially interested parties, including those identified in the Petition for the Appointment of a Guardian. The notice shall inform the interested parties that they may appear and object to the application or otherwise participate in the proceeding. Any party who does not appear or object within 20 days after the date of the notice will be deemed to have waived any objection to the disposition of the application as determined by the Court.
(c) If there appears preliminarily to be good cause to sell the real estate, then the Court shall enter an order appointing an appraiser of real estate, licensed and certified pursuant to Delaware law, to perform an appraisal of the real property to be sold. The appraiser shall be independent of the parties to the sale and disinterested as to any proposed transaction.
(d) Based on the appraisal and all other relevant information, the Court shall determine in its discretion whether the requested sale is in the best interest of the person with a disability. The appraised value shall be considered by the Court as a guideline and is not determinative of the outcome of the application or the fairness of the price.
(e) If the Court approves a sale, then the guardian shall be authorized to make a deed for the benefit of the purchaser which may convey as full a title to the land as the person with a disability had at the time of sale, unless the Court determines it is in the interest of the person with a disability to convey a lesser estate.
(f) The Court may order that the real estate be sold free and clear of any lien or encumbrance existing at the time of sale created by or against the person with a disability. Any such order may be entered only if reasonable notice of the application and the sale has been given to the holder of the affected lien or encumbrance. The lien or encumbrance shall, without change of priority, be transferred to the proceeds of sale.
(g) If the Court approves a sale, the guardian shall submit a return of sale within 30 days after the sale of the property or as otherwise directed by the Court.
(h) The Court may appoint a trustee to conduct the sale in lieu of the guardian.
(i) The Court may rule on the application in whole or part after holding a hearing or based on the documents submitted.
Code 1852, §§ ?1988-1992; Code 1915, § ?3934; Code 1935, § ?4441; 12 Del. C. 1953, § ?3951; 57 Del. Laws, c. 402, § ?3; 69 Del. Laws, c. 109, § ?2; 74 Del. Laws, c. 410, § ?1; 78 Del. Laws, c. 119, § ?1; 78 Del. Laws, c. 179, §§ ?115, 116; 80 Del. Laws, c. 54, § ?1;