QUESTION
My mom died 2 years ago, she is the owner of the house but her sister is the co-signer. Can me and my brother transfer our names in the deed or title?
Asked on Mar 23rd, 2012 on Real Estate - New Jersey
More details to this question:
My mom died 2 years ago, her sister is just the co-signer of the house. My mom has a will that she is giving her share of the house to me and my brother. When my mom was still alive my Aunt never paid anything in the house she was just a co-signer. My Aunt took all the documents, copy of deed etc., 2 years ago. Now, my Aunt took equity loan from her house and paid off my mom''s house for about 70,000. She said she wanted to help us. Now, she is owning the house, she was telling us to pay her the 70,000 for 6 years before she can transfer our name in the title. What are our rights as children of a deceased mother? Can we still transfer our name in the title or deed without waiting for 6 years? Do we need a lawyer to put our names in the title or deed? If we need a lawyer, how much will this cost?
1 ANSWER
1 Award
You need a lawyer. Not because it is complicated, but because by your post, I can tell you have no idea how to approach this issue. You need an estate lawyer to open an estate and then transfer the interest of your mother to you. Then you have to deal with her half if she is on the deed. If she was just on the mortgage loan, but not the deed, you may own the house fully. You have no idea without a search, which the lawyer can do. You also need to see if RE taxes are paid, and if the loan was really paid. I am not sure where you got this six year wait from, but I do not understand it. You need to move ASAP to neatly tie this up. Cost is unclear without more facts, but probably $3000 plus filing fees.
Answered on Apr 15th, 2012 at 9:30 AM