(a) “Transfer statement.” — In this section, “transfer statement” means a record authenticated by a secured party stating:
(1) that the debtor has defaulted in connection with an obligation secured by specified collateral;
(2) that the secured party has exercised its post-default remedies with respect to the collateral;
(3) that, by reason of the exercise, a transferee has acquired the rights of the debtor in the collateral; and
(4) the name and mailing address of the secured party, debtor, and transferee.
(b) Effect of transfer statement. — A transfer statement entitles the transferee to the transfer of record of all rights of the debtor in the collateral specified in the statement in any official filing, recording, registration, or certificate-of-title system covering the collateral. If a transfer statement is presented with the applicable fee and request form to the official or office responsible for maintaining the system, the official or office shall:
(1) accept the transfer statement;
(2) promptly amend its records to reflect the transfer; and
(3) if applicable, issue a new appropriate certificate of title in the name of the transferee.
(c) Transfer not a disposition; no relief of secured party's duties. — A transfer of the record or legal title to collateral to a secured party under subsection (b) or otherwise is not of itself a disposition of collateral under this Article and does not of itself relieve the secured party of its duties under this Article.
Structure Delaware Code
Article 9. Secured Transactions
§ 9-602. Waiver and variance of rights and duties.
§ 9-603. Agreement on standards concerning rights and duties.
§ 9-604. Procedure if security agreement covers real property or fixtures.
§ 9-605. Unknown debtor or secondary obligor.
§ 9-606. Time of default for agricultural lien.
§ 9-607. Collection and enforcement by secured party.
§ 9-609. Secured party's right to take possession after default.
§ 9-610. Disposition of collateral after default.
§ 9-611. Notification before disposition of collateral.
§ 9-612. Timeliness of notification before disposition of collateral.
§ 9-613. Contents and form of notification before disposition of collateral: general.
§ 9-615. Application of proceeds of disposition; liability for deficiency and right to surplus.
§ 9-616. Explanation of calculation of surplus or deficiency.
§ 9-617. Rights of transferee of collateral.
§ 9-618. Rights and duties of certain secondary obligors.
§ 9-619. Transfer of record or legal title.
§ 9-621. Notification of proposal to accept collateral.
§ 9-622. Effect of acceptance of collateral.
§ 9-623. Right to redeem collateral.
§ 9-625. Remedies for secured party's failure to comply with article.
§ 9-626. Action in which deficiency or surplus is in issue.
§ 9-627. Determination of whether conduct was commercially reasonable.
§ 9-628. Nonliability and limitation on liability of secured party; liability of secondary obligor.