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uying or Selling a home in Ardencroft is not really any different that doing so anywhere else with a few exceptions. Because Ardencroft (like Arden and Ardentown) follows the Single-Tax principles of Henry George, all the land within the Ardencroft municipality are owned by a non-profit Corporation – the Ardencroft Association.
In other words, when you own a home in Ardencroft you do not own the land itself. Rather you own a 99-year renewable, transferable lease to the land. You can do whatever you wish with the land, within the limits of New Castle County code of course.
The diagram below illustrates the basic steps of purchasing a home in Ardencroft (AA). You can click on the image to enlarge it or save it for printing out.
Transfer of an Ardencroft Lease
Below are key documents that you will need, and legal requirements that must be satisfied, when buying or selling a home, or transferring a lease, in Ardencroft. Your agency or legal representative will provide you with the required documents from our administration if requested.
Assignment of Lease – Bill of Sale – Documents the transfer of both the land and the improvements from the seller to the buyer.
MS Word Version
Adobe Acrobat Version
Ardencroft Lease – Documents the legal owner, or owners, of the leasehold.
MS Word Version
Adobe Acrobat Version
Ardencroft Lease Transfer Invoice Sample – Billing fee associated with the administration of the lease transfer process.
Tax Payments and Escrow Accounts for Ardencroft Parcels – Important information for Mortgage Companies, Real Estate Agents, and Attorneys.
Requirements for the Transfer of an Ardencroft Lease – Lists the items that will need to be completed for the lease transfer process.
Ardencroft Association Policies – Important information for potential buyers and sellers.
1. The Ardencroft Association Directors reserve the right to limit the number of leaseholds held by a single party/entity to a maximum of two and to define what an entity is within the context of this policy. This policy will not affect assignments of leases resulting from Wills, Trusts, or Intestacy. Current leaseholders need to be aware of these potential limitations if they are thinking of selling their home.
2. Leases may be assigned to an LLC or other artificial entity with the personal guarantee(s) of the member(s) of the LLC or other artificial entity and of other financially responsible guarantors such as spouses. The Ardencroft Association Directors reserve the right to request a “Certificate of Good Standing” and credit reports. We require the LLC or other artificial entity managing member(s) names and addresses on the leases.
3. The Directors will require that all New Castle County land use violations, outstanding fines, and fees existing on a leasehold be resolved whenever a leasehold is sold or transferred or when improvements requiring a building permit are proposed. The Ardencroft Association will not issue an Assignment of Lease, Bill of Sale, or a Non-Objection Letter (required for NCC permits) until proof is provided that these matters are settled.