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Delaware Code (Titles 8, 9, 25, 30)

25 Del. C. § 3905

Notice of sale; disposition of proceeds

Official textdelcode.delaware.gov

# (a)

Prior to any such sale the lienholder shall give at least 15 days’ notice of the sale by handbills posted in 5 or more public places and by advertising in a newspaper published and/or circulated in the county in which the sale is to be held.

# (b)

The proceeds of the sale shall be applied to the discharge of the lien and the cost of keeping and selling the property. The balance, if any, of the proceeds of the sale shall be deposited not later than 10 days from the date of the sale with the court to be applied by the court to the payment of any lien or security interest to which the property may be subject in the order of their priority, with any remaining proceeds to be paid to the owner or owners of the property sold but, in case such owner or owners cannot be found, such balance shall be turned over to the State Treasurer not later than 60 days from the date of the sale who shall create a special fund thereof and who shall pay to the owner the moneys left if a claim is made within 1 year of the sale, or deposit the moneys in the General Fund if no claim is made within 1 year of the sale.

# (c)

In every lien sale authorized under this chapter, it shall be the duty of the lienholder to complete and file with the Court a disposition of proceeds form, as designated by the Court, within 10 days from the date of the sale. No transfer of or new certificate of title to the vehicle sold or salvage certificate shall be issued by the Department of Motor Vehicles without proof of the filing of said disposition of proceeds form with the Court within the required time period. A copy of the disposition of proceeds form sealed with the Court’s seal shall constitute sufficient proof of filing.

Amendment history

17 Del. Laws, c. 620, § 1; 34 Del. Laws, c. 193; 61 Del. Laws, c. 367, § 1; 64 Del. Laws, c. 34, §§ 1, 2; 78 Del. Laws, c. 62, § 2

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In this title (40 sections)
  1. 25-2902 · Attachment of lien to proceeds of sale
  2. 25-2903 · Duration of lien
  3. 25-2904 · Payment of taxes by lienholder; action for collection
  4. 25-2905 · Action by lienholder to collect tax lien; amount of recovery;…
  5. 25-2906 · Priority of liens of the State and political subdivisions on…
  6. 25-3101 · Federal tax liens and liens notices
  7. 25-3102 · Place of filing
  8. 25-3103 · Execution of notices and certificates
  9. 25-3104 · Duties of filing officer
  10. 25-3105 · Fees
  11. 25-3501 · Enforcement by public sale; nature of sale
  12. 25-3502 · Notice in special cases; jurisdiction of justices of the…
  13. 25-3503 · Disposition of proceeds of sale
  14. 25-3701 · Preference of lien
  15. 25-3702 · Duration of lien
  16. 25-3703 · Persons entitled to lien
  17. 25-3901 · Persons entitled to liens
  18. 25-3902 · Lienholder’s loss of possession
  19. 25-3903 · Sale to satisfy liens
  20. 25-3904 · Release of owner’s interest in vehicle or property
  21. 25-3905 · Notice of sale; disposition of proceeds
  22. 25-3906 · Motor vehicles
  23. 25-3907 · Priority of lien
  24. 25-3908 · Remedy of owner
  25. 25-3909 · Jurisdiction
  26. 25-3910 · Rules
  27. 25-4001 · Definition of abandoned personal property
  28. 25-4002 · Right and title to abandoned personal property
  29. 25-4003 · Procedure to obtain title
  30. 25-4004 · Sheriff’s or constable’s sale of the property when there are…
  31. 25-4005 · Remedy of owner
  32. 25-4006 · Motor vehicles
  33. 25-4007 · Jurisdiction
  34. 25-4008 · Rules
  35. 25-4101 · Priority of lien
  36. 25-4102 · Removal of grain under lien
  37. 25-4103 · Penalties
  38. 25-4301 · Liens in favor of charitable hospitals
  39. 25-4302 · Establishment of lien; notice of claim
  40. 25-4303 · Attachment of lien to judgment
Full table of contents →