Legal Question in Wills and Trusts in New Jersey

My father does not have much longer to live. His home currently has a mortgage but is being rented and the rent pays the mortgage and the taxes. Last year my father put my sisters and my name on the deed. When he does pass and his home goes into probate does the home need to be sold? or can we continue to pay the mortgage with the renters money??


Asked on 10/05/14, 4:52 am

1 Answer from Attorneys

Miriam Jacobson Retired from practice of law

If the legal title is already in your and your sisters name, you do not have to sell the house. As long as you continue to make mortgage payments and pay other property taxes and related expenses of maintaining the house, you're okay. You may want to consult with a local real estate lawyer to discuss communicating with the mortgage holder to substitute you on the mortgage.

THIS RESPONSE IS NOT LEGAL ADVICE, SINCE I DO NOT HAVE ALL OF THE INFORMATION THAT WOULD BE REQUIRED, AND I DO NOT HAVE A REPRESENTATION AGREEMENT WITH YOU.

* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.

* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.

Read more
Answered on 10/05/14, 7:37 am


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in New Jersey