Browns Mills, NJ asked in Real Estate Law for New Jersey

Q: When does property that was willed to me become mine? It is still deeded under my father's name.

Unfortunately, there are many repairs to be done before I can put the house up for sale. I was thinking about getting an inheritance loan if possible.

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1 Lawyer Answer
Marcel Wurms
Marcel Wurms
Answered
  • Lodi, NJ
  • Licensed in New Jersey

A: The property "officially" becomes yours once the personal representative of your father's estate executes a will. There may be several other things that need to be done to give you clear title. You will need to receive an inheritance tax waiver from the NJ Division of Taxation. This may or may not require the filing of tax returns by the estate.

The personal representative also has to marshall all the other assets of the estate, to ensure that all distributions can be made. You should contact the personal representative to determine the status of these items.

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