Legal Question in Real Estate Law in New Jersey

Re: promissory note/mtg?

What you are trying to accomplish can be easily done. You seem to have a general idea about how to do this, but you do not have the terminology correct. Generally, what you will do is discharge the mortgage that is on record and record a new mortgage with your new deal. However, you really should have an attorney do this for you, to be sure everything is kosher!

Keep in mind that this advice is based purely on the little bit of information that you have given to me. There certainly may be other factors that would change my opinion. Further, no one can rely on advice from an attorney who has not been retained. Since it appears that you have not retained an attorney, you may want to contact a real estate attorney (either me or someone else) to discuss your matter in more detail. Only then will you be able to rely on the advice. If you call me, mention Law Guru and your first one hour consultation will be free. Good luck! Rob Gleaner

Re: promissory note/mtg?

I have read what Rob Gleaner said, and he is correct.

You really should have a lawyer do this for you, and that should not cost very much. You have some problems with your son, and you want to be protected.