Legal Question in Real Estate Law in New Jersey

You'd have to negotiate with the other owners. If there is a co-owners' agreement, it might spell out what happens and how when one of the owners wants to give up ownership.

If the other co-owners agree, yes, you would pay them the agreed on amount.

You would have to sign a deed and the other documents required to record the deed, and record it. You probably should also have some kind of mutual release, so that none of you can come back later and make claims against the other[s]. See a lawyer to help you with all of the above. Although often people think it's just a "simple" deal, it isn't, and everyone should have appropriate legal counsel and protection.

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.