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Veloso v. Veloso

A-3185-02T2 (N.J. Super. App. Div. 2004) (Unpublished)

DEEDS; SIGNATORIES—A person who signs a deed solely to allow another to obtain a mortgage can be ordered to deliver a deed to the actual owners so as to effectively remove that person’s name from the deed.

A co-signer for a mortgage appealed from a final Chancery Court judgment ordering partition of the residence covered by the mortgage. The lower court denied his motion for reconsideration and for vacation of the judgment. The co-signer also contended that he was the legal owner of the property. The lower court held that although the co-signer’s name was included on the deed along with the other owners, the court believed that his name was placed on the deed for the sole purpose of allowing the owner to qualify for a mortgage. It determined that the co-signer never invested any money for the purchase or advanced any expenses for the house. Therefore, it ordered that the co-signer’s name be removed from the deed and that the mortgage and any other liens encumbering the house be paid-off quickly by the owners. Furthermore, it ordered the co-signer to deliver a deed to the other named owners, making them the sole owners.

The lower court also found the testimony of the owners to be more credible than that of the co-signer. That is a determination residing exclusively with the fact-finder. The Appellate Division sustained the lower court’s decision.


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