Legal Question in Real Estate Law in New Jersey

If he doesn't want to be paid for giving up his share, all he has to do is to deed his interest to the other names on the deed and have the deed recorded. He probably should let them know that he is doing it.

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.

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If he wants to receive any money for his interest, he (along with the others who also want to get out, if desired) would need to file a law suit called a "partition action" which in essence would require the others to buy out their interests at fair market value or otherwise require the property to be listed for sale and the money evenly divided. It is not a complicated action, but sometimes takes time, depending on the particular facts and also the actions of the parties during the law suit.

This answer is given based on the scanty facts you have provided. My answer may change based on particular facts involved in this matter. This is not legal advice that you can rely on because we have never met and I have not been retained. For this type of action, you should seek the advice of counsel. Feel free to call me to discuss this matter in more detail at 856-546-8010. Your first consultation would be no charge. Good luck! Rob Gleaner