Legal Question in Wills and Trusts in New Jersey
One house, too many unhelpful heirs
My father recently passed away and
left the house to be divided between
surviving spouse (not on title) and 6
children (from first marriage). The
house is costly to maintain and only
3 children are willing to pitch in until
it sells while others are willing to let it
foreclose. Can the executor sell the
house for only what is owed on the
mortgage to the 3 heirs that are
willing to maintain the house? And if
so, do those 3 get to keep the profits
once sold or do they have to pay out
to the other heirs?
1 Answer from Attorneys
Re: One house, too many unhelpful heirs
Your question is more complicated by the fact that it is occuoied by a survivng spouse. Under NJ law, even if she was not given an interest in the house by your father's Will, she would have the right to occupy it for her lifetime. The major questions in this regard are (1) what responsibility she has to the costs of operation, such as mortgage, real estate taxes, insurance, maintenance and repairs and (2) does she still want to reside there, knowing she would be the equivalent of a tenant and be responsible either to pay rent or cover many of these costs. Can she afford to do this? I am presuming the Will makes no reference to this problem and does not specify what costs she must bear and how any shortfall becomes the responsibility of the children. I suggest that all interested parties (wife and children) get together and work out some agreement, in writing, to resolve this. Keep in mind that if the wife consents to a sale, her "life estate" interest in the house may be worth more than the interest she gets under the Will. Having been through this type of situation many times, I suggest that an attorney familiar with all of the complications and nuances be used as a mediator to assist in working out an agreement. Contact me directly if you have any additional questions or want more suggestions.