Legal Question in Real Estate Law in New Jersey

The State doesn't care who pays. The deed is a document of title and, with a few exceptions that are not important to your question, does not depend on where the consideration for the acquisition of title has come. The lender, however, will probably not allow what you suggest. In the usual case, the lender wants to be able to foreclose the interest of all owners in the event that the loan is not paid on time. It is possible that a lender might agree if the non-paying owner is subordinated to the lender's interest. That would require some special documentation. Note that this question sometimes comes up where the joint owners have prepared their own deed thinking that they can create a joint tenancy and save money on lawyers and re-financing. Unfortunately, most of the time, the change results in an act of default under the mortgage and can result in a foreclosure even if the loan is being paid on time.

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