Legal Question in Wills and Trusts in New Jersey

Sale of Rental Property inherited

Mother died approx 3 yrs ago. Her home has been rented out while she was in nursing home approx for 10 yrs. We now want to sell. I hear of taxes we might owe to state and Middlesex county. Proceeds of sale divided three ways.


Asked on 2/24/09, 4:06 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: Sale of Rental Property inherited

Your question is somewhat vague as to what taxes are being questioned, income taxes while being rented, real property taxes, possible inheritance taxes and/or other types. Presuming the lease has ended and someone has been appointed as estate representative, the property can be sold and any taxes due handled at that time. If you need more information or assistance, contact me directly.

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Answered on 2/24/09, 12:19 pm


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