Legal Question in Real Estate Law in New Jersey
real estate
I purchased a home back in 1992 andquit claimed deeded the home to my finance and I in 2004 and he put an additional of 89,000.00 on the for our new baby and my son from a previous relationship. My home has been in Bankruptcy since 2004 and he was to refinance and pay all the debts off. But the morgage company does not want me on the mortgage it will bring the interest rate up. Should I let him refinance in his name and he will keep the same Deed in both our name. He is streamling the loan he has another mortgage on a rental property. I don't want him to leave and take my entire home, it should be split 50/50? What are your thoughts.
1 Answer from Attorneys
Re: real estate
You can have your fiance on the mortgage alone but keep the deed as is with both of your names on it and you will continue to have tenancy in common with your fiance. You will retain your rights in the property.
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