Legal Question in Real Estate Law in New Jersey

The lien is against your co-owner's interest in the property. Therefore, when you sell the property, the IRS lien will claim your co-owner's proceeds from the sale, but not your proceeds. In order to have a smooth settlement, you or your lawyer will have to work with the IRS to make sure that it agrees to release the lien upon payment of your co-owner's proceeds to the IRS.

Be careful with whom you invest in the future. Co-ownership is a risky business.

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.