Legal Question in Real Estate Law in New Jersey

Re: Placing a Mortgage on a Residential Condominum

The best way to protect your interest is to have your parents sign a mortgage to you and record it in the county clerk's office where the property is located. If you want, our office can prepare the necessary documents for you. We need a copy of the deed to do this. The charge should be about $200 plus the recording fee. If you are interested please call my office.

Bernard Berkowitz

973-808-2003

Re: Placing a Mortgage on a Residential Condominum

Since you have a 1% ownership evidenced by the deed, clear title to the property cannot pass at the time of sale without your authorization. Someone could probably purchase a 99% interest, but unless it is a related party, I doubt anyone would.