Legal Question in Wills and Trusts in New Jersey

Was there a Will? Did it direct what should be done with the condo? Have you completed administering the estate, by paying all taxes and debts? If so, you may transfer it from the estate to yourselves.

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.

First, where is the condo? Was the estate probated? If it is in NJ you have to file a tax form with the state in order to sell the condo. If everything else regarding the estate has been completed, you can put the deed in your name or sell directly to a third party from the estate and then divide the proceeds. You should get some legal advice. Bring the will, a copy of the deed, and any other relevant papers to an attorney to review. If you call my office and mention Law Guru, the first consultation will be free.

While I agree with the other authors, I add that (1) there is no time period for this to be done, (2) you may need to get a tax waiver from the Inheritance Tax Bureau before you sell the condo, as you will be asked about this aspect if and when you sell it and this will simplify a sale, and (3) it is better to place the property in your names and record the tax waiver before the sale, as this makes tracing title and questions about death taxes a lot easier to see when the condo is sold. There are forms. aside from the Deed, that must be filed as well, so it is better if an attorney assisted you in this entire process. 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.