Legal Question in Wills and Trusts in New Jersey

Re: 50% ownership of condo

To answer your question, I would need to review a copy of your husband's Will and the deed to the condo.

However, the practical answer is for you and his children to agree that if you were given "life rights" to the property, you should be able to live there rent free, provided you pay all the costs. Fighting over rent, etc. will get you and the children nowhere. All parties would need to agree on a sale, and the proceeds would be subject to the same terms [i.e. same ownership, use, etc.].

Re: 50% ownership of condo

Actually, if your name was on the deed together with your husband as tenants in common, and his will left 50% to you upon his death, then you own 3/4 of the condo. That's because you already owned 1/2, and your husband owned 1/2. He could not will more than he owned, so his 1/2 is 50% yours and 50% split among his 4 children. Each of them would have a 6.25% interest.

If the will also provided that you have the right to live in the condo, but it doesn't say how the expenses should be paid, you probably are responsible for 75% of the expenses, but may be responsible for only 50%. His children cannot charge you rent.

If you want to sell, the children do have to consent and to sign the deed. There should have been an estate administration, so that your husband's interest was officially transferred by a deed to you and his children. All debts and taxes should also have been paid by his estate.

The children cannot sell without your consent, and the proceeds of sale would be divided according to your respective interests. They cannot force you to move out.

You may want to buy out the children's interest so that you have full control over the condo unit, and don't have to worry about what they will do or if they will consent to what you want to do.

To work on a buy-out, or if there is any attempt to sell or to get you to leave, you should consult with a local estates [wills and estates of deceased] / real estate lawyer to protect your interests.

Re: 50% ownership of condo

This really does require straightening out. You do not want to live with this hanging over your head.

Answering your questions will require an attorney looking at the Deed, the Will and possibly other documents. You did not mention any prenuptual agreement.

Please call my office if you would like my assistance. I can speak to you on the telephone, but it will take more than just a brief telephone call to assist you with these issues.

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Re: 50% ownership of condo

Having handled this type of situation many times, my first suggestion is to meet with the children and work out an agreement, and put it in writinjg, signed by everyone. There are issues that go beyond the questions of rent, allocation of expenses, sale rights, etc. Since nothing was specified in your husband's Will about these matters and who would be responsible for what, here is my take on things. This presumes that you now own 75% of the home and the children, in the aggregate own 25%. You could be considered a "tenant" and might be responsible for "rent", but 75% goes back to you. They are responsible for 25% of all costs and expenses. They are necessary parties to a sale, but they cannot kick you out, as you have lifetime occupancy rights in the marital home. As a tenant, you are responsible for day-to-day repairs, but they might be responsible for 25% of major repairs. They should be listed as additional insureds on fire and liability insurance. If all else fails, you could sue for partition and buy them out. If you need assistance, contact me directly.