You may need to sue, but small claims you can handle yourself without a lawyer.

I still wouldn't talk to the police without a lawyer.

The two of you form a company (with help of a lawyer and a CPA) and you put in cash in exchange for some fraction of the ownership.

If they press, tell them you're looking into transferring property into a family trust at the request of your lawyer for estate planning and you are just checking to see if the transfer tax applies.

Does anyone have a recommendation for a lawyer in Monmouth County, NJ?

I’ve had problems hiring a lawyer 20 minutes away from a neighboring county who ended up unsure of the restrictions placed in my county.

This was suggested by my lawyer, but not sure why.

My lawyer says to create a note with interest too.

Have your lawyer examine the lease, and if possible ask for an estoppel certificate to confirm that everything is actually at it appears.Frank

Be certain to have your lawyer draw-up a formal contract as would be the case with any private lender.I would also ensure that you make a "principal" payment into a holding account (high interest, GIC, money market) each month so you have the necessary cash on hand to retire the balance of the balloon loan when you refinance to a conventional mortgage in 3-5 years ... unless the value of house appreciates substantially in that time period, you will not be able to place a mortgage for your entire purchase price.