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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 117358
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
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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: 11 months ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 11 months 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.

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