Legal Question in Real Estate Law in New Jersey
House
Appraisal was completed, the other person on the deed/mortgage agreed to the split of the house, now that person says she wants more money. We are suppose to be going to closing for the refinance of the mortage in 3 weeks, what legal info do I need??
2 Answers from Attorneys
Re: House
Did your co-owner agree in writing to "split the house"? I assume that this means the co-owner would go out of title in exchange for your buying out her interest?
If it was in writing, you can hold her to the agreement, but if it wasn't, you may not be able to close.
You really should have a lawyer assisting you in a buy-out / refinance, to make sure that all of the loose ends between you and your co-owner are tied up.
Re: House
There is a lot that you question does not say. Who is buying? Is there as signed contract? Did the co-owner of the property sign the contract? How is the property held by the current owners?
You will probably get more helpful answers if you re-write the question. Alternatively, just call.
See also: http://info.corbettlaw.net/lawguru.htm