Legal Question in Real Estate Law in New Jersey

joint ownership of primary residence property

My brother and I jointly own private residence(50%each). I need to seperate out and he says he will sell his share to me but is being difficult. He has mortgage on the property for 75% of the value of property. Mortgage was totally taken out by him. I have no mortgage on property, my share is all equity. Since he is not willing to solve this, what are my legal rights and where does this lead me to?


Asked on 10/20/07, 1:15 pm

1 Answer from Attorneys

Walter LeVine Walter D. LeVine, Esq.

Re: joint ownership of primary residence property

Many facts are missing that prevent a full response, such as why he has mortgage and you do not, what the mortgage proceeds were used for (buying this house or some other purpose that you did not benefit from), who has been paying the mortgage and other costs (taxes, insurance, etc.). This sounds like a suit for partition may be required, if you cannot work it out amicably, in which suit a Court will allow one party to buy the other out (fixing the terms of the purchase when all facts are presented, or ordering a sale, in which you could lose ownership). Suits for partition can get nasty, be costly and take time. Better the costs and fees involved are used for someone to analyze the facts and try to mediate a settlement. If you need assistance, contact me directly. This is a response to an Internet question and the reply is not intended to be legal advice or as creating an attorney-client relationship.

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Answered on 10/20/07, 1:25 pm


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