Planning ahead for the transfer of your property is one of the best gifts you can give your family – peace of mind. But what happens when a Delaware homeowner passes away without a valid will? The result can be a “tangled title,” when the name of the person living in the home is not on the deed.
Without a clear title to the property, it may be impossible to buy homeowner’s insurance, get a home equity loan or sell the home. Families often face a costly, drawn-out legal process to clear the title and transfer the home to the new owner.
AARP Delaware supports House Bill 147, which would create a Transfer on Death Deed for our state. The document allows a homeowner to transfer their home to a loved one when they die simply by naming a beneficiary (just like we currently do with cars, pension proceeds and retirement accounts). TOD Deeds have a track record of working well in other states. They have been used in the U.S. for more than 35 years, and 30 states currently allow them.
By completing a TOD Deed and filing it with the Recorder of Deeds Office, homeowners can ensure their home goes directly to the person they choose, avoiding the complexity of probate or the expense of a trust. TOD Deeds can also help prevent fraud because they require notarization and must be publicly recorded before the property owner’s death – added safeguards not present with a will.
According to a 2024 AARP survey of older Americans, almost half don’t have a will, and the number is even higher for Hispanic, Black and low-income respondents. When a homeowner dies without a will, the cost to clear the title can prevent the accumulation of generational wealth for the family. TOD Deeds will give Delawareans an additional estate-planning tool, especially useful for homeowners whose main asset is their home.
We urge legislators to give Delaware homeowners this simple, low-cost option and to pass HB 147 this year.
-
A letter to the editor expresses a reader's opinion and, as such, is not reflective of the editorial opinions of this newspaper.
To submit a letter to the editor for publishing, send an email to viewpoints@capegazette.com. All letters are considered at the discretion of the newsroom and published as space allows. Due to the large volume of submissions, we cannot acknowledge receipt of each submission. Letters must include a phone number and address for verification. Keep letters to 400 words or fewer. We reserve the right to edit for content or length. Letters should be responsive to issues addressed in the Cape Gazette rather than content from other publications or media. Letters should focus on local issues, not national topics or personalities. Only one letter per author will be published every 30 days regarding a particular topic. Authors may submit a second letter within that time period if it pertains to a different issue. Letters may not be critical of personalities or specific businesses. Criticism of public figures is permissible. Endorsement letters for political candidates are no longer accepted. Letters must be the author’s original work, and may not be generated by artificial intelligence tools. Templates, form letters and letters containing language similar to other submissions will not be published.
