Legal Question in Real Estate Law in New Jersey

Re: Changing ownership on property deed

All that is required is a Deed from the current owners to the new owners, plus an Affidavit of Consideration indicating a gift transfer (less than $100.00). Any attorney can prepare the documents and record them. Expect to pay about $100-$150 plus recording fees.

Re: Changing ownership on property deed

Changing ownership requires the preparation of a deed and affidavits of consideration. You may or may not be able to do this yourself.

One important question is whether or not there is a mortgage on the property. If so, the mortgage holder must be asked for consent, since most mortgages provide that any transfer of title is a default and permits the mortgage holder to demand payment in full at once. You should get such consent in writing. If the mortgage holder will not consent, you and your wife may refinance the house (rates are very good at this time) to pay off the existing mortgage.

You may also want to check with the title insurance company that insured the purchase of the property, to see if it will continue the title insurance coverage for your and your wife after the transfer.

If you need assistance, you should consult a real estate attorney in or near your county. If you contact me directly, I will be happy to discuss fees with you.

NJ Office:

Suite 412, Stationhouse

900 Haddon Avenue

Collingswood NJ 08108

Voice: 856-858-7775 or 215-569-2415

Fax: 215-569-4514

email: [email protected]

Re: Changing ownership on property deed

You need to have an attorney draw up a Deed and supporting papers to file with the County Clerk. You should make an appointment with an attorney near you and bring him/her a copy of the Deed. Once it has been prepared all the current owners will have to sign it. It should cost you about $250 to do this. You could do it yourself by getting the forms from a stationary store, but to be sure it is done right you should go to a real estate attorney. If you are in North Jersey, please call my office for help. Good luck.

Bernie Berkowitz

973-808-2003