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Updated July 28, 2023

A Delaware land contract sets forth the terms of a land transaction between two or more parties. (Land transactions may also be known as “lot” transactions. The parties, usually a buyer and seller, can utilize this contract in order to stipulate all the details surrounding the purchase and sale of the land/lot, such as the agreed-upon purchase price as well as the land’s legal description. Buyers often use this document to make a formal offering for the land; upon receiving the proposed offering, the seller can accept or issue a counter-offering. Both parties shall sign and execute the contract upon reaching an agreement.

Supplemental Information

Seller’s Disclosure of Real Property Condition Report (Vacant Land) – This disclosure must be given to the potential buyer prior to the final settlement. The seller must disclose all material defects of land use for residential purposes only.
Where to Record? (25 DE Code § 151) – All deeds must be recorded in one of the following three locations, depending on which county the property is located: Kent County, New Castle County, or Sussex County.