In this interesting and informative video, Fredrick P. Niemann, Esq., a New Jersey Estate Planning Attorney, discusses the legal status of mortgage debt on the transfer of real estate between the Estate of the deceased/owner and the prospective beneficiary(ies), property owners.
Mr. Niemann discusses how debt can be extinguished as part of Estate Administration or continue forward to the new owners depending upon the intent of the person making the gift.
This video is especially meaningful for those who contemplate making significant gifts of real estate, money or other property to family members and beneficiaries after death and the legal effect of any pre-existing debt upon the property being transferred.
Mr. Niemann invites his readers as well as viewers of this video to contact him at firstname.lastname@example.org or call toll free at 855-376-5291.
By Fredrick P. Niemann, Esq., a NJ Estate Administration Attorney