Legal Question in Real Estate Law in New Jersey

Lien

My step father borrowed $29k from me. He promised to pay me back as soon as he sells his business' building which is 'for sale by owner. I have a notorized legal document and this agreement is part of my mother's divorce judgement. How can I put a lien on the building and do I need a lawer to do this. I'm afraid that he will sell the building without me knowing and not pay me back.


Asked on 11/27/08, 8:39 pm

1 Answer from Attorneys
Miriam Jacobson Retired from practice of law

Re: Lien

If your father signed a note [like an IOU] and if the notarized legal document is a mortgage, you should record the mortgage as soon as possible. That is the only way that a lien on the property would give notice to anyone interested in the property and be seen by anyone searching the records, like a title insurance company. Without such notice, your lien would not be paid at the settlement and the buyer would not be responsible for the debt.

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Answered on 11/28/08, 12:36 pm


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