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Executor's Deed -- New Jersey Executor is also Grantee of Decedent's Estate. What amount of consideration is written in deed?

Atlantic City, NJ |

When Grantor conveys real property to sole Grantee named in will, and Grantee is also Executor, in preparing Executor's Deed, what sum is used as consideration? (No encumbrances.)

Attorney Answers 2

  1. When preparing a Deed for the administration of an estate i would customarily write in the deed that the consideration is for one ($1.00) dollar and in accordance with a bequest under a Will. You will also need to prepare an affidavit of consideration in order to obtain an exemption from the realty transfer fee based upon not only the dollar amount of consideration but also stating that the deed is being prepared in accordance with the distribution and terms of the will.

    IMPORTANT LEGAL NOTICE: The response to the question posted is not legal advice and it does not create an attorney-client relationship. The response is intended as general information based upon the facts stated in the question, and is provided for educational purposes of the public, not any specific individual. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. Responses are based solely upon New Jersey law.

  2. The previous responder's answer is correct. To the extent possible, you should also ensure that the "recitals" portion of the deed is reflective of the chain of title and contains the date of death, date of the Will, date of probate, etc.

    This message does not constitute legal advice and is for informational purposes only. This message does not establish an attorney-client relationship, which can only be established once a retainer agreement has been fully executed between you and this firm. For legal advice, please contact and retain an attorney of your own choosing for more information.

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