Legal Question in Wills and Trusts in New Jersey

i want to transfer my deed to my kids but have a line of credit open. Who is responsible for the Line of credit. Can I transfer the deed?


Asked on 12/30/09, 11:58 am

1 Answer from Attorneys
Jonathan Chester The Law Office of Jonathan S. Chester, Esq., LLC

You are responsible for the line of credit. Also, please note that re-titling the property to your children may accellerate the payment of the line of credit.

The line of credit should be paid off and cancelled prior to signing any new deed.

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Answered on 1/04/10, 12:08 pm


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