Legal Question in Wills and Trusts in New Jersey
Inherentance Property
I have seven sisters and brothers and only three are paying the property tax on the property on and now it will be sold for the taxes. Can only the people paying the taxes be awarded the property because we are paying the tax?
2 Answers from Attorneys
Re: Inherentance Property
Is the property actually being sold, or only the tax lien? Presumably it is only the tax lient. You do not say what is the intention of the family: to keep the property or eventually sell it? You also do not say what the taxes are and if the ones paying it can afford to cover the shortfall? I suggest that you consider several options: (1) Let the ones who can afford to ante up the shortfall and consider this a loan to the others. They will get reimbursed when the property is eventually sold. (2) Let the ones who can afford to buy the tax lien, and earn interest that they will receive when the property is sold. (3) Bring a suit for partition and either sell the property or buy-out the ones who refuse to pay their share. If you need more information, contact me directly.
Re: Inherentance Property
No but there may be other avenues available to you. You should consult with an attorney ASAP before the tax sale takes place.
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