The men, identified as 62-year-old Richard Quattrone and 56-year-old Kamran Ahmadimarandi, were both pronounced dead in the Compass Avenue home in Beachwood at around 9:15 p.m.
Ahmadimarandi has been identified as Quattrone's brother in-law.
Police say the investigation revealed that Quattrone and his wife, 57-year-old Fatemeh Quattrone, were involved in a verbal domestic dispute that Ahmadimarandi witnessed. All three reportedly live in the same home.
According to authorities, Richard Quattrone and Ahmadimarandi entered a bedroom, at which time Ahmadimarandi retrieved a .09-mm handgun and shot his brother-in-law twice.
After shooting Quattrone, Ahmadimarandi contacted 911 and than turned the gun on himself.
The single-story ranch home where the shooting happened is directly across from the Beachwood Community Center.
The house overlooks the Toms River.