Legal Question in Real Estate Law in New Jersey

I signed a lease purchase agreement 5 years ago. this agreement will expire in 3 months. at that time the owner of the property is to transfer owership to me free and clear of any leins. he now tells me there is a mortage on the property that he is unable to pay off due to financial problems of his own.He lives in Florida and property involved is in New Jersey. Please advise


Asked on 7/08/10, 3:59 pm

2 Answers from Attorneys
Jef Henninger, Esq Law Offices of Jef Henninger, Esq.

I'd be happy to refer you to a real estate attorney.

Read more
Answered on 7/08/10, 7:10 pm
Robert Gleaner Robert A. Gleaner, P.C.

Based on what you have stated, it appears that he has a legal obligation to transfer the property to you. There may be creative ways to accomplish this. However, any attorney would need to look at the entire situation to figure out how to proceed. You need to contact an attorney immediately.

Keep in mind that this information is given based on the scanty facts that you have provided. And no one can rely on advice from an attorney who has not been retained. In order to be able to rely upon any advice, you need to meet with and retain an attorney, who will be able to give you advice after a full and comprehensive interview. Before you do anything, you should contact a real estate attorney for a full consultation. Feel free to call me at 856-546-8010 to discuss your matter in more detail. Mention Law Guru and your first one hour consultation will be free. Good Luck! Rob Gleaner

Read more
Answered on 7/08/10, 7:48 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in New Jersey