Legal Question in Real Estate Law in New Jersey
estate
My Mother and I owned a house as joint tenants. I am the only child. She had nothing e
lse. she died in March 2006.Hired a lawyer to change the deed to my name.When we did this 15 years ago, we thought there would not be a problem. I have paid him $850.00. Now he said that i have to be bonded for her half of the amount of the property. This amounts to 2,750.00. Live in Nj. Is this correct. Thank you,
1 Answer from Attorneys
Re: estate
If the Deed was in both names when she died, you automatically inherited it. I do not know why you need to be bonded, unless he is talking about a potential inheritance tax due to the value of your mother's 1/2 interest. More facts are needed about the current status of the Deed and how the Deed read on your mother's date of death, plus the market value of the house on her date of death. Also, did your mother leave a Will? Even if you say she had nothing else did she own a car, have furniture and/or furnishings where she lived, or have jewelry or anything else of value? You can contact me directly with this information and I will respond to your question.