by Anonymous on October 16th, 2006

Anonymous

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My husband and I own a house in New Jersey with my mother. The deed does not specify the percentage of ownership. So, do we own the house 50/50 or 1/3 each?

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  • by littleknown on October 16th, 2006

    littleknown

    It is worded that way so that it can become a survivorship. If any two were to perish, the one left would be sole owner without probate.
    Much like car titles where there are survivorships. Also one owner can sell without the permission of the other two.
    If you were to sell the home now, then it would be up to you three as to how to split the proceeds. However law would say 33.33 percent each.

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