How can a former spouse or survivor assert entitlement to surplus funds following the owner’s death or divorce?
How can a former spouse or survivor assert entitlement to surplus funds following the owner’s death or divorce? Detailed Answer When a Delaware property owner dies or the title is split by divorce, a court-ordered sale (for example, under a judgment or partition) can yield proceeds above the secured debts. Delaware law calls these excess […]
Read article →What Options Exist for Selling or Auctioning Personal Property to Reimburse Estate Expenses and Equalize Distributions Among Heirs?
What Options Exist for Selling or Auctioning Personal Property to Reimburse Estate Expenses and Equalize Distributions Among Heirs? Detailed Answer Under Delaware law, an executor or administrator holds the authority to convert estate personal property into cash in order to pay debts, cover administrative expenses, and equalize inheritances among beneficiaries. The main statutory framework appears […]
Read article →Who is eligible to receive surplus proceeds when the property was solely in the deceased spouse’s name under Delaware law?
Detailed Answer When creditors enforce a judgment against real estate in a court-ordered sale, they may generate funds exceeding the debt and costs. Under Delaware Code Title 10, Section 3902, the sheriff must hold these “surplus proceeds” and pay them to the person entitled by court order (10 Del. C. § 3902). If the property […]
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