Legal Question in Real Estate Law in New Jersey
Secured Mortgage
recently signed mortgage agreement with family member. agreement must be ''secured''. what is process for doing so?
thank you!
2 Answers from Attorneys
Re: Secured Mortgage
You have to record the mortgage with the county clerk in the county where the property is located.
Please call my office if you would like to schedule an appointment. My contact information can be obtained from the links below. Let my secretary know you found me through LawGuru, and I will give you a free initial consultation.
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Re: Secured Mortgage
In order to 'secure' a loan or other debt by having an enforceable right to take the property and sell it to pay that debt, you have to have a mortgage which the Courts will enforce if needed.
There are a couple of pieces of information that an attorney would need to have from you to make sure that this is done correctly and will be enforceable. I strongly suggest that you hire an attorney to take care of this for you. If you have already lent the money or made the agreement that you want to make sure is 'secured', then you still need to get some expert advice as to what you need to do next.
If you would like, give me a call; I am in northern New Jersey. I will discuss this with you; the telephone consultation will be free. I would be happy to help you out.
My contact information can be obtained from the links below, just click on the Attorney Profile link. Let my secretary know you found me through LawGuru.
Disclaimer: Your question and any response does NOT create an attorney-client relationship between you and this law firm. You can not rely on the statements made by an attorney given over the internet. The exact facts of your situation, including facts which you have not mentioned in your question, may completely change the result for your situation.