Legal Question in Real Estate Law in New Jersey

Re: Get out of a joint Mortgage

If you and he had a co-owners' agreement, that would govern how one of you buys out the interest of the other or you both sell the house and divide the proceeds of sale.

If you did not have such an agreement before, you should negotiate his buying you out, or your buying him out, or selling the house and dividing the proceeds of sale.

If those options fail, you would have no other alternative but to sue for partition. That usually results in the court ordering sale and division of the proceeds. It takes longer, costs more, and both of you would end up with less, if anything.

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.

* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.

* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.