Legal Question in Real Estate Law in New Jersey
Percentage of property/Deedholders responsibility
I have 2 questions.
My great grandmother died in 1995 and left her 8 children's name on her deed for a 3 family house. 6 of the 8 people have transferred the deed into my name.
Q. Do I own 6/8 of the property and the other 2 people on the deed hold their original 1/8? (or all we all owning 1/3?)
Okay, the remaining 2 people listed on the deed have never paid anything regarding the home for over 10 years now. The house is in dire need of repair and upgrade. The deed needs to be consolidated into one name (my name)in order to get a home equity loan for the needed repairs.
Q. How would I be able to get the other 2 people off of the deed?. Can this be done? How easily or difficult?
I'd appreciate any feedback.
1 Answer from Attorneys
Re: Percentage of property/Deedholders responsibility
I will assume that you have given all the relevant facts; please understand that there are likely some facts that you did not discuss which will affect this result.
To answer your first question, you now own whatever the 6 people who gave you their ownership had. How much each of them owned will depend on how it was stated in the Deed to each of them (or perhaps in the Will if there was no deed).
To answer your second question, I will assume that this is a single family home. You can not force the other two to deed their ownership to you. You probably can have a Court order the property to be sold, and the proceeds distributed to the owners. as to who gets how much, it should go in proportion to how much ownership each person has. that may be changed depending on a couple of factors, for example who is living there, is anyone paying rent, and other things.
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