Legal Question in Real Estate Law in New Jersey

Hello,

I would like to remove my son from a deed with his pemission,so he can purchase his own home. which form do i use for new jersey. if i purchase this form,all i will need is a notory to wittess it.will this be legal enough?


Asked on 11/25/09, 8:40 pm

2 Answers from Attorneys
Locksley Wade Law Office of Locksley O. Wade

Removing his name from a deed will not relieve him of his legal obligation under a mortgage note.

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Answered on 12/01/09, 7:40 am
Robert Davies The Davies Law Firm, P.A.

You really should not try to fix a problem that involves your house without legal advice. Please see an attorney. It should not cost much.

If the goal is to let him buy his own house, you will want to be sure that what you are doing does accomplish that. There are other problems you might run into that you are not even thinking about. For example, gift tax may be owed amounting to thousands of dollars if you do this wrong.

Give me a call, and I will see what I can do to help you out.

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Answered on 12/01/09, 11:56 am


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