Legal Question in Real Estate Law in New Jersey

Can someone forclose on a house for a debt that is owed when only one of the 2 people who signed the contract have ownership in the house but also have the ownership with 2 other people who have nothing to do with the debt as well as a fisrt and second mortgage.

Asked on 12/22/10, 2:42 pm

1 Answer from Attorneys

kevin connolly Anderson Kill & Olick, P.C.

The mortgage would attach to the interest of the mortgagor. How you deal with having a new co-owner can be the sticking point, but if you did not sign the mortgage or take subject to it, you cannot be foreclosed.

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Answered on 12/28/10, 4:49 pm

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