NJSBA Family Law Section

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  • 1.  New Deed?

    Posted 08-28-2017 02:42 PM
    Good afternoon All:

    Any thoughts on the issue below would be greatly appreciated-

    Parties bought real property prior to marriage, as tenants-in-common.  Parties are in the process of entering into a pre-nup in anticipation of marriage and would like their respective interest in the real property to be converted into tenants by the entirety (with a right of survivorship).  

    Is the interest converted by operation of law as a result of entering into the pre-nuptial agreement or does a new Deed need to be prepared and recorded?  We suspect a new deed needs to be prepared and recorded. If so, any specific language that should be included in the Deed?   Thanks, Komal

    ------------------------------
    Komal S. Ullah, Esq.
    Wolkstein Von Ellen & Brown, LLC
    Springfield, NJ 07081
    973-376-1114
    ------------------------------


  • 2.  RE: New Deed?

    Posted 08-28-2017 02:50 PM
    Hi.

    A new deed from the parties as tenants in common to themselves as husband and wife after they marry will convert ownership to tenants by the entirety.

    Robert E. Goldstein, Esq.
    Drescher & Cheslow, P.A.
    (732) 972-1600
    [email protected]

    Visit my website: www.mydivorcelawyernj.com


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  • 3.  RE: New Deed?

    Posted 08-28-2017 04:18 PM
    Do a new deed to match the prenup to be safe 

    Sent from my iPhone



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  • 4.  RE: New Deed?

    Posted 08-28-2017 04:18 PM
    August 28, 2017
     
    Dear Komal:
     
        Why don't you put in the pre-nup that after the parties are married, they will do a new Deed as "Joe Doe and Mary Doe, Husband and Wife.  In this way, when one of the parties dies, the real property goes to the other party.  However, check with their mortgage company first before you complete the pre-nup (if parties have a mortgage). 
     
    Patsyann
     
     
    Good afternoon All: Any thoughts on the issue below would be greatly appreciated- Parties bought real property prior to marriage, as tenants-in... -posted to the "Family Law Section" community

    Family Law

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    New Deed?
    Reply to Group Reply to Sender
    Aug 28, 2017 2:42 PM
    Komal Ullah, Esq
    Good afternoon All:

    Any thoughts on the issue below would be greatly appreciated-

    Parties bought real property prior to marriage, as tenants-in-common.  Parties are in the process of entering into a pre-nup in anticipation of marriage and would like their respective interest in the real property to be converted into tenants by the entirety (with a right of survivorship). 

    Is the interest converted by operation of law as a result of entering into the pre-nuptial agreement or does a new Deed need to be prepared and recorded?  We suspect a new deed needs to be prepared and recorded. If so, any specific language that should be included in the Deed?   Thanks, Komal

    ------------------------------
    Komal S. Ullah, Esq.
    Wolkstein Von Ellen & Brown, LLC
    Springfield, NJ 07081
    973-376-1114
    ------------------------------
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  • 5.  RE: New Deed?

    Posted 08-28-2017 05:06 PM

    I doubt the mortgagee can do anything about a conversion into ten/ent from a tenants in common.  That's not even an event of default under the terms of any mortgage.  They're the same parties.

     

    But for thirty or forty years, lenders have even been prohibited by federal statute  from accelerating a mortgage loan  when there's a divorce post judgment conveyance from former spouse to former spouse.  Of course, both spouses are still liable on the loan, but there's no acceleration of the loan.

     

     

     

    Mark F. Saker, Esquire

    Attorney ID #271831971

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  • 6.  RE: New Deed?

    Posted 08-28-2017 04:18 PM

    No.  Tenants in common (probably each owning 50%), will stay that way unless you convert it of record into tenants by the entirety (each owning 100%) after they marry with a new deed.  Just leaving it in a prenup is just executory.  Won't help you if one of them dies.

     

    And ten/ent is automatically with right of survivorship.  "Joint tenants with right of survivorship" is for unmarried folks who are not taking title as "tenants in common".

     

     

     

    Mark F. Saker, Esquire

    Attorney ID #271831971

    ______________________________

     

    SUMMER HOURS  EFFECTIVE FRIDAY, JUNE 23RD  THROUGH FRIDAY,

    SEPTEMBER 1, 2017 THE OFFICE WILL CLOSE AT 12:00 PM ON FRIDAYS

     

     

    image006.png@01D0F54B.3C02E780

     

    PLEASE NOTE OUR NEW ADDRESS

     

    Lomurro, Munson, Comer, Brown & Schottland, LLC

    Monmouth Executive Center

    4 Paragon Way, Suite 100

    Freehold, NJ, 07728

    image002.gif@01D02A87.76DA3D70[email protected]

    image003.gif@01D02A87.76DA3D70Main: 732-414-0300 X 140

    image003.gif@01D02A87.76DA3D70Direct: 732-414-0343
    image004.gif@01D02A87.76DA3D70Fax: 732-431-4043

      Cell:  732-915-5190

    W   www.lomurrolaw.com

     

    CONFIDENTIALITY NOTICE:  This Email and any attachments thereto are intended for the exclusive use of the addressee. The information contained herein may be privileged, confidential or otherwise exempt from disclosure by applicable laws, rules or regulations.  If you have received this Email in error and are not the intended recipient, you are hereby placed on notice that any use, distribution, copying or dissemination of this communication is strictly prohibited. If you have received this in error please notify the sender immediately at 732‑414-0300 and delete this Email and any attachments immediately.  Thank you for your anticipated cooperation.

     

     




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  • 7.  RE: New Deed?

    Posted 08-30-2017 11:32 AM
    August 30, 2017
     
    Dear Komal:
     
        I'm sorry for confusing the "New Deed" matter .  While it is best to put in the pre-nup that the parties will do a new deed as Husband and Wife, what I meant to say was that when the parties are married, you or another attorney should prepare and record a new deed with the "Parties names, Husband and Wife".  Out of respect for the mortgage company, have the parties notify the mortgage company and tell the agent that a new deed will be recorded with the parties as Husband and Wife.
     
    Patsyann
     
     
    Good afternoon All: Any thoughts on the issue below would be greatly appreciated- Parties bought real property prior to marriage, as tenants-in... -posted to the "Family Law Section" community

    Family Law

      Post New Message
    New Deed?
    Reply to Group Reply to Sender
    Aug 28, 2017 2:42 PM
    Komal Ullah, Esq
    Good afternoon All:

    Any thoughts on the issue below would be greatly appreciated-

    Parties bought real property prior to marriage, as tenants-in-common.  Parties are in the process of entering into a pre-nup in anticipation of marriage and would like their respective interest in the real property to be converted into tenants by the entirety (with a right of survivorship). 

    Is the interest converted by operation of law as a result of entering into the pre-nuptial agreement or does a new Deed need to be prepared and recorded?  We suspect a new deed needs to be prepared and recorded. If so, any specific language that should be included in the Deed?   Thanks, Komal

    ------------------------------
    Komal S. Ullah, Esq.
    Wolkstein Von Ellen & Brown, LLC
    Springfield, NJ 07081
    973-376-1114
    ------------------------------
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    You are subscribed to "Family Law" as [email protected]. To change your subscriptions, go to My Subscriptions. To unsubscribe from this community discussion, go to Unsubscribe.



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