QUESTION

Can a quit claim property in a trust with a mortgage be distributed to a designated heir? A recording by the grantor said not to pay it off

Asked on Jan 20th, 2012 on Trusts and Estates - New Jersey
More details to this question:
the above question is in regard to property and trust in New Jersey.
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1 ANSWER

Elder Law Attorney serving Toms River, NJ
Partner at Diana L. Anderson
2 Awards
There are really not enough facts to completely answer this question.  There should be some language in the trust that will indicate when, or under what conditions the property can be distributed.  if those conditions are met, the property could be distributed, but then the beneficiary might have to take the property with the lien of the mortgage, and then be responsible for paying it.  
Answered on Feb 05th, 2012 at 9:20 AM

Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship

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