Legal Question in Real Estate Law in New Jersey

Re: nee to get out of mortgage

Unless there was an agreement between you and your boyfriend when you bought the house, you should (if it's possible at this time) work out terms under which he or his sister and brother-in-law buy out your interest in the house.

This alone does not help you with respect to the mortgage. Mortgages, large or small, may not be assumed unless the mortgage itself says so, or the current holder of the mortgage agrees in writing.

What you want to accomplish is getting your name off the deed and also having the mortgage holder release you in writing from your obligations under the Note and Mortgage you signed. If your interest in the house is bought out, the new owners are in a position to refinance the existing mortgage[s], pay them off and pay you for your interest, and that way you will be released from your obligation on existing mortgages.

If no agreement can be reached, you would have to sue for partition and sale of the property. This is expensive and time consuming. I recently handled a matter very similar to what you describe, and eventually we were able to resolve it by agreement.

You should have an attorney represent you in working this out, to be certain that you are fully released from obligations.

Re: nee to get out of mortgage

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