Legal Question in Real Estate Law in New Jersey

At the moment, you and your husband each own an undivided one-third interest in the property as tenant's in common. The remaining owner is the estate of your mother. Probate will be required to transfer the interest of the estate to whomever gets it. This is almost certainly not what your mother thought would happen, especially since her estate may owe gift tax on the original transfer to you depending on how long ago it took place and what values are involved. It would have been better for her to consult a lawyer before changing the deed. You should not make the same mistake. Consult a lawyer near you who handles estates. � See also: http://info.corbettlaw.net/lawguru.htm