Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Foreclosures
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

User Stats

42
Posts
5
Votes
Sandy Reddy
  • Real Estate Agent
  • Jersey City, NJ
5
Votes |
42
Posts

Sheriff sale in NJ

Sandy Reddy
  • Real Estate Agent
  • Jersey City, NJ
Posted

Hello Everyone,

Questions regarding a sheriff sale property.  Current property deed has two names (X and Y), however the mortgage note has only one name (X).

And as per the title search report, 

Chain of Title1:

When the property was purchased the deed has both X and Y names as joint tenants with the Right of Survivorship.

Chain of Title2:

Later a quit calm deed was made with Grantor( prior owner)  Y and Grantee (deed owner ) X

Chain of Title3:

Again a bargain and sale deed was made the other way from above Grantor( prior owner) X and Grantee (deed owner ) Y

Current Title (vesting information):

And one more time a Deed was made with both names (X and Y) on the deed as joint tenants with the Right of Survivorship.

Now, as X is the only mortgage holder from the time of purchase, and bank is foreclosing the mortgage on X, will Y have any legal ownership to the property, if the property gets sold at sheriff sale. Would winning bidder have to deal with Y about the ownership of the property ?

Would appreciate your inputs.

Loading replies...