How to determine how much of a property a joint tenant owes?

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How to determine how much of a property a joint tenant owes?

In 1994 my mother-in-law purchased a house and put my mine and my husband’s name on the deed as “joint tenants with rights of survivorship” along with hers as “tenant in common”. In 2007 my husband passed away leaving my name and hers on the deed. In 2006 she wanted to take her name off the deed. She granted her portion to me and her 2 daughters. How much of this house is mine.

Asked on January 20, 2011 under Real Estate Law, New Jersey

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

I would confirm this answer with an attorney that practices in this area in your state.  So, I would assume that in 1994 you and your husband owned the property 50/50 with you Mother in Law.  When he died, the 1/2 became your entirely with you Mother in Law and you as tenants in common.  She can only grant her half which she did in 2006 in 3 equal parts to you and her daughters.  So you own 1/2 plus 1/3 of 1/2.  You without a doubt own the majority share of the property.  It may be in your best interest to try and buy out your sister in laws at this point in time.  Good luck to you. 


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