Legal Question in Real Estate Law in New Jersey

Real Estate Deed

Does a wife relinquish ownership of a home by adding her husband to the deed in granting him ownership for $1


Asked on 7/07/07, 4:46 am

1 Answer from Attorneys

Miriam Jacobson Retired from practice of law

Re: Real Estate Deed

It depends on how she "added" her husband to the deed.

In order to share the property with her husband, she should have signed a new deed, from herself to herself and her husband, and included a statement as to how they own the property [as tenants in common, or as tenants by the entirety], which makes a difference in whether each has the right to will, otherwise transfer or sell her/his interest in the property to others, and whether debts and liens against only one of them will attach to the property, or not.

The owner should really consult with and engage the services of a real estate lawyer in your area so that the interest in the property isn't changed in a way that was not intended.

Unless the husband is actually buying, for fair market value, an interest in the home, the deed may state a consideration of $1.00.

My NJ Office is in Collingswood [Camden County].

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Answered on 7/07/07, 3:50 pm


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