How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 110349
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
Type Your Real Estate Law Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

My parents are selling their home in NJ. They currently have

Customer Question

My parents are selling their home in NJ. They currently have a home equity loan with a $40,000 balance. Will that need to be paid off before the title can be transferred?
Submitted: 1 month ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 1 month ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
Yes, all liens on the home must be paid off upon sale or the lender will not release the lien. So as it is a home equity loan, they have a lien on the home and upon sale the lender must be paid from the proceeds of the sale before they will release the lien so the buyer can get a clear deed to the house.

Related Real Estate Law Questions