Legal Question in Real Estate Law in New Jersey

Buyers are entitled to title free and clear of all liens of any kind. This means that you must be able to pay off the mortgage and all other leans. If your are not able to do that out of the sale proceeds, you would have to pay them out of pocket before closing is completed. Don't you have a lawyer representing you to figure out how to do this?

If you don't have your own lawyer, the buyer must be getting title insurance. The title insurance company will advise you of the liens and objections that you are responsible to clear, and it may also poitn you in the direction of how to clear title.

THIS RESPONSE IS NOT LEGAL ADVICE, SINCE I DO NOT HAVE ALL OF THE INFORMATION THAT WOULD BE REQUIRED, AND I DO NOT HAVE A REPRESENTATION AGREEMENT WITH YOU.

* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.

* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.

While I generally agree with Miriam, that all liens must be paid to delievr good title, this might be difficult if you have no other assets. I suggest your attorney contact all the remaining lien holders and explain the situation, and ask them to compromise their debt from the balance of the sales price. They all must agree to the deal for it to work, and they or some might not, which might prevent a closing. If you really have no other means of paying all liens, it might require Court action to allow the sale to go through. This is a response to an Internet question and the reply is not intended to be legal advice or as creating an attorney-client relationship. Different or omitted fats could change the response.

while the mortgage need to be paid first there may be negotiation with the other lenholders which an Attorney can do. You should rtain an attorney as soon as possible

this is what you need a smart tough lawyer for.

Robert Davies, Esq.

201 820 3460