Land lease verses owning the land. (Long Neck: 2009, condominium, transfer)

[Charley]

Thanks Joyce. Yes, Southern Meadows is covered under Chapter 70 because it was Debbie from Southern Meadows who not only told me about the regs, she provided me with a copy for my reading pleasure. It's long and boring and written in legalese, but I'm working my way through it and hoping that Nobles Pond is covered along with Wild Meadows. Spring Meadows is a different story because it's not land lease. If I bought in Spring Meadows, I'd own the land along with the house.

Charley

[elizamary]

Originally Posted by CMTAD

Extra space = extra cleaning = no no no not for us ... lol.

I believe it's the first $12,000 on which you don't pay income tax, but the tax website information is a little murky. So I need to learn more about this.

I also need to learn more about tax on cars. I believe there is a tax on cars when you first get to Delaware ... a one-time tax on the value of the car. If anyone can share info on this it would be helpful.

Thanks.
Charley

It seems about right from what I have heard too. We will however have to pay on part of my husbands pension.

We are leasing our camry and when we moved to De, our payment dropped about 25 to 30 dollars a month because no tax in DE.
However,
We had to Pay $600 for having our car inspected and getting our DE tags. I suppose part of it was the tax?
They said it was because it was a newer car and this fee is for 5 years.
I almost fell over when they told me it was $600. I never expected that but then they explained we only have our car inspected for 5 years plus the go by the age of the car. (ours is a 2007)
We took our car to the DMV right in Dover where they inspect and handle all the paper work right there. quite convenient.
This is about all I know so far.

[elizamary]

Originally Posted by CMTAD

Thanks Joyce. Yes, Southern Meadows is covered under Chapter 70 because it was Debbie from Southern Meadows who not only told me about the regs, she provided me with a copy for my reading pleasure. It's long and boring and written in legalese, but I'm working my way through it and hoping that Nobles Pond is covered along with Wild Meadows. Spring Meadows is a different story because it's not land lease. If I bought in Spring Meadows, I'd own the land along with the house.

Charley

Hi Joyce.......
The community (southwood)alongside of Southern Meadows is owned by the the Strine family, same ones that own Southern meadows.
As you drive into our community, you could see the trailers until you got to Southern Meadows property.
Those trailers have since been moved out. The owners of those trailers received eviction notices. The Strine family paid the fee to relocate them in other parks of their choice and also paid for new stripping around the houses.
We have lived here since Feb and so far I can say with confidence the owners are fair, reasonable people.
I'm sure this community will be here for quite a while for 55+ seem to be hot with baby boomers.


Like Charley said we are protected by the chapter 70 or something like that.
I am not at all technical and having the patience to read that stuff. Thank God we have Charley who is willing to do this.

[Charley]

Originally Posted by elizamary

We had to Pay $600 for having our car inspected and getting our DE tags. I suppose part of it was the tax? They said it was because it was a newer car and this fee is for 5 years.

I'm using this as motivation for my wife and I to make our cars last until we get to Delaware so that we are then paying tax on "older cars" ... lol.

What does this "five year" fee actually cover?

Charley

[JoycieM]

Hi Eliza! I am relieved to hear from you ( and Charley) that Southern Meadows is covered by the regulations. I get distracted reading contracts and "legal" documents. I really, really hate reading anything that I actually have to " think" about. So, blessings to you, Charley, for doing that job as well!!!

Ron and I continue to look at communities. We looked at two in PA in the last few weeks. They were both older so I guess it's not fair to compare but I couldn't live in either one. The last one was really a campground with homes on the perimeter of the campground spaces. There is a 55 and over section which is actually just a street. I have to say they had a great variety of homes and plans and one model was quite nice. The prices were reasonable, too. However, I was depressed after visiting there. I turned to Ron and said," So.....Delaware it is, isn't it? " We are ready to start our new life together in a new place. AND...there is that beautiful ocean that draws me to it.

Take care to all.
Joyce

[RWH]

Website for income tax info: Delaware
Scrolling down the page will bring you to a section titled: RETIREMENT INFORMATION, IRA TOPICS, PENSION EXCLUSIONS, SOCIAL SECURITY BENEFITS
As you will see, the $12,500 limit is for those 60 and over. Younger than that, the limit is $2,000.

This website, Delaware Car Registration Guide - Forms, Locations & Hours - DMV.ORG , has information for getting your out of state care licensed, registered, inspected and taxed in order to get Delaware plates. The tax is 2.75% based on the NADA trade-in value. If you bought your car within 90 days of registering in Delaware, you can get an exemption from paying the 2.75%.

Ron

[Charley]

Great references, Ron. Thanks very much! I'm sure that everyone will find these as helpful as I did. I'm particular glad that you could confirm for me the info on pensions.

Thanks again.

Charley

[elizamary]

Originally Posted by CMTAD

I'm using this as motivation for my wife and I to make our cars last until we get to Delaware so that we are then paying tax on "older cars" ... lol.

What does this "five year" fee actually cover?

Charley

As far as I know, it covers inspections, tags, registration and all the fees that go along with applying for DE tags. I'm not technical but I hope this helps.
In Pa......we had to have our car inspected once a year. Here we are good for five years. Not sure I like that idea because I think it is good to know what is going on with you car for safety reasons. We take ours in but some may not if they dont' have too.

[elizamary]

Originally Posted by RWH

Website for income tax info: Delaware
Scrolling down the page will bring you to a section titled: RETIREMENT INFORMATION, IRA TOPICS, PENSION EXCLUSIONS, SOCIAL SECURITY BENEFITS
As you will see, the $12,500 limit is for those 60 and over. Younger than that, the limit is $2,000.

This website, Delaware Car Registration Guide - Forms, Locations & Hours - DMV.ORG , has information for getting your out of state care licensed, registered, inspected and taxed in order to get Delaware plates. The tax is 2.75% based on the NADA trade-in value. If you bought your car within 90 days of registering in Delaware, you can get an exemption from paying the 2.75%.

Ron

Great information Ron..........Thanks.

[elizamary]

Originally Posted by JoycieM

Hi Eliza! I am relieved to hear from you ( and Charley) that Southern Meadows is covered by the regulations. I get distracted reading contracts and "legal" documents. I really, really hate reading anything that I actually have to " think" about. So, blessings to you, Charley, for doing that job as well!!!

Ron and I continue to look at communities. We looked at two in PA in the last few weeks. They were both older so I guess it's not fair to compare but I couldn't live in either one. The last one was really a campground with homes on the perimeter of the campground spaces. There is a 55 and over section which is actually just a street. I have to say they had a great variety of homes and plans and one model was quite nice. The prices were reasonable, too. However, I was depressed after visiting there. I turned to Ron and said," So.....Delaware it is, isn't it? " We are ready to start our new life together in a new place. AND...there is that beautiful ocean that draws me to it.

Take care to all.
Joyce

Hi Joycie,
It is good to keep looking so that you are sure. bill and I did that and it was actually fun.
We sort of miss our excursions to different communities but at the same time releived that the decsion has been made. Boy, it was a toughie. At that time, we had it narrowed down to 3 communities and couldn't decide. We like Southern Meadows but wasn't too sure about the community as you drive in.
BTW......this community has been removed from the southern meadows entrance.
Other than that, I really loved Southern Meadows and my heart was here and I'm not at all sorry. I love living here. I sit in my living room with the christmas lights on, relaxing while I admire my home and think how lucky I am to have such a pretty house in a community with such nice people.
We had a Christmas party Sunday night and it was great. Marta had the clubhouse decorated so pretty, There was caroling and Bill played santa to hand out the secret santa presents. It was a lot of fun, really it was.
Great food and BYOB.

In the meantime, keep taking your time so you are sure. We have a couple that moved in Sept and now their house is for sale. She is homesick for PA and cries everyday. This is a case of someone that did not think it through on this so important issue. it's a big step so take your time and have fun.

Let me know when you come down again and we can meet for dinner somewhere.
Take care joycie