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Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 33802
Experience:  15 years real estate, Realtor. Landlord 26 years
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MARRIED SECOND WIFE 15 YEARS AGO. WE HAD A PE-NUP PROTECTING

Customer Question

MARRIED SECOND WIFE 15 YEARS AGO.
WE HAD A PE-NUP PROTECTING PRE-MARRIAGE ASSETS.
WIFE MADE LOAN OF $75,000 TO ME 10 YEARS AGO IN EXCHANGE FOR A MORTGAGE ON MY PROPERTY.
WIFE DECEASED 1 MONTH AGO.
I AM SOLE HEIR TO HER ESTATE. HER ONLY CHILD DECEASED 5 YEARS AGO AND SHE HAD NO CHILDREN.
HOW DO I REMOVE MORTGAGE FROM MY PROPERTY?
Submitted: 6 months ago.
Category: Real Estate Law
Expert:  Barrister replied 6 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

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If you are the sole heir, you would have to file a probate case and be named Administrator of her estate so that you could legally execute a release and satisfaction of mortgage form and file it with the local land records office to release and remove the mortgage lien.

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thanks

Barrister

Customer: replied 6 months ago.
We are in Florida. We have started the Probate here so i can be named Executor/Personal Representative. The property is in Ocean County NJ. Once named Executor, what process do I follow in NJ to clear the mortgage and file with the county. Please be specific with the NJ steps.
Expert:  Barrister replied 6 months ago.

Did wife have any assets located in NJ?

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thanks

Barrister

Customer: replied 6 months ago.
No.
Expert:  Barrister replied 6 months ago.

Ok, then you don't' have to file an "ancillary probate" in NJ... Once you are appointed as executor/PR of her estate in FL, you can just sign off on a "mortgage release" as executor/PR and then you mail it up to the local land records office where the property is located for recording. You would need to call them first to find out how much recording fees are so you can send that along with the release.

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You need a copy of the currently recorded mortgage so you can get the recording information off of it to complete the release.

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This is a link to a legal document company that sells mortgage releases you can use: NJ Mortgage Release

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thanks

Barrister

Customer: replied 6 months ago.
OK, thanks. If we need a NJ attorney in the end, where can I find your details?
Expert:  Barrister replied 6 months ago.

Unfortunately, I am not allowed to represent customers from the site or recommend anyone personally under my agreement with JustAnswer. However, these are a couple sites that we attorneys actually use if we need foreign counsel in a state where we aren't licensed. Further, customers have consistently reported good results with these sites:

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www.martindale.com

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www.lawyers.com

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They screen their attorneys based on geographic location, area of practice, time in practice, cost and customer reviews.

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But if you ever need me in the future, you can just post a new question with "For Barrister" in the caption and the JustAnswer employees will get it to me.

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thanks

Barrister

Customer: replied 6 months ago.
Are you licensed in NJ?
Expert:  Barrister replied 6 months ago.

No, I do not have reciprocity with my current license for NJ so can not represent customers in NJ.

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thanks

Barrister

Customer: replied 6 months ago.
As we had clicked "NJ" in the interview screen, we were under the impression the answer was coming from someone licensed by the NJ BAR. What reliance can I hold on your answer in that it pertains to NJ Law? Otherwise, this excercise may have been wasted.
Expert:  Barrister replied 6 months ago.

It is a universal rule in property law across the United States that a mortgage can only be released with a "mortgage release" signed by someone with the authority to execute it, as owner or on their behalf, or a court order from a judge dissolving it. lt is not a NJ law concept, it is a US property law rule. The reason that customers are asked for their state is so that if there is something that is state specific, that information can be provided specifically based on their state.

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But general property law concepts are uniform across the US.

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However, you are under absolutely no obligation to accept or rely on my answer and are free to request a full refund and JustAnswer will happily provide it to you, no questions asked. You can then consult a NJ attorney who will relay the exact same information to you, albeit at a much steeper price.

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thanks

Barrister

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