Sign New Jersey Assignment of Partnership Interest Simple

Document type sign assignment of partnership interest new jersey simple

anyway let me at it simple don't want Melbourne like me you been around in you're gonna go to see warehousing I don't know that's not to me alright so estates and interests wrong states and interests what does the word estate mean again we talked about this yesterday we talked about what is real estate right what was the word to say assets correct so what state means assets something you own but you can also have interests or claims so on top of it states your right assets in on top of interest you're gonna write claims claims I give you carcasses dude I'll explain right after this for you alright cool so that states we got it assets interests we got it claims right and we cover all this pretty much yesterday right when we talked about subsurface rights or interests air rights or interests way so estates inland because a state meets asset if it says the stay in land we're talking about ownership up land or property or real estate and it says not all forms of ownership for real estate are equal an owner may or may not be able to pass property on to the heirs sometimes ownership may exist only as long as the property is used for a specific purpose in addition please I like underline put stars other persons may possess certain interests which are legal claims or rights in one's real estate these are two short chapters but they drag in certain areas of the chapter now the amount and kind of ownership interest that a person has in real property is an estate in land ownership of real property is an estate in land and the states and lands are divided to two major classifications we have freehold estates and we have less than freehold or leasehold estates freeing all the states are states of big the terminal length meaning a person may own that estate for a lifetime or forever and three freehold estates are recognized in New Jersey they are be simple feed the terminal and like the states we're going to go in detail to to all of these okay the first two of these estates continue for a definite period and are inherited by the heirs of the owner the Third Estate these highlights on their language stars the Third Estate ends on the death of the person on whose life it is based again don't worry I'll explain in a second leasehold estates we're going to talk about these in Chapter 12 so for now just a quick reference lease all the states it starts with lease the word buy here look starts with lease if it starts with lease means that the leasehold involves tenants you got these will be in Chapter twelve leases will be chapter 12 so leasehold estate that's all we're referencing now so we're gonna start with freehold and freehold means you own it nobody else has a superior claim to your product because the lease holds your attendance but you cannot sell the property you cannot gift the property because only the owner or the landlord has their rights great so freehold nobody has a claim on your property you can do whatever you want with it you're the owner and there's Pete simple and fee simple is simple you own it you can pass it along to your heirs you can dispose of the property at any time you can do whatever you want with the property nobody can question you on your actions with the property you got great then we have feed eternal in front of feeds eternal I want you to write conditional or contingent feed eternal and where it says speak I want you guys to remember ownership okay Sarah times you fee fee simple you own it's simple feed the terrible you own it but there's a condition or contingency meaning if you screw up you might lose the property okay so let's figure out what happens here in the Jersey a feed the turnable also the less conditional fee or the physical feed he's an estate in land that can terminate on the occurrence or non-occurrence of a specified event if you do this for you you will lose it if you don't do that you will lose it there's a condition okay for example John Smith conveys or transfers title to a thousand acres to the Jones foundation I'm gonna stay right here for a second where it says conveys I want you to circle what it says transfers I want you to circle because every time he sees you see conveyance or conveyance or transfers it means exactly the same conveyance means transferred either by gift or sale but it was a transfer so John Smith transferred a thousand acres to the Jones foundation as long as they kept it as wildlife preserve five years later the Jones foundation decides to do was to build a corporate headquarters how is it building wildlife it's not so I sold to you with the condition the condition was it's yours as long as you keep it as wildlife that was a condition you put a building on it you've breached our agreements so what happens now is title or the ownership to the property that you have revert back to me I sold it to you is your yours as long as very simple example you give a cell phone to somebody all right like kids especially the kids you give cellphones or kids to you like hey here's a cell phone make sure your grades don't go down here's a cell phone don't spend all your time on YouTube here's a cell phone it's not free to be playing games it's strictly for communication between us right if they breach the agreement the cell phone is theirs and if they breach the agreement what do you do take it away it comes back to me does that make sense so think about it that way the feed the turnable is it's yours as long as you agree to our conditions the moment you breach disagreements property comes back to me good okay this future interest is called possibility of reverter so we're bringing back to me now let's make the worst pretty case what if I say like my oldest his name is bitter he has a cell phone right so what if I say hey fit the knot pillar of my partner that's way older than me but my son's name is better so what if I say a pivot to cell phones yours if your grades drop I'm taking the cell phone away and I'm giving to your sister Kaitlin do you think he's gonna be happy no cuz kids are like that where you've taken away from me and you're giving to my sister uh-huh not happening right but guess what if it's great to drop I will take the cell phone it doesn't come back to me it goes to a third party to my daughter right to his sister so we call that the remaindermen it doesn't come back to me he goes to a third party because the agreement was between me and my son but then I named my daughter as a third party to this agreement which is these are my conditions to you if you screw up she's gonna benefit from it you guys got it so remaindermen is a third party named in the instrument this is a brand-new explanation but never using the class we just took the phone away from my daughter so that's why temporarily got hurt a little the cellphone he has like life ends forget parents if I got himself one I'm good it says the kid right my um side notes my daughter is the same age as my sister my under system right so they spend hours chatting these other hours my sister gets out of class starts already trying to reach my daughter I'm like come on get a life it's good to you guys out like this but you gotta like do something so once something starts failing you hit him where it hurts which is yeah not today you're not gonna talk things change quickly I'll behave anyway remainderman third party you guys good let's complicate things life estates life is stays based on somebody's life so a life to stay this litter the life of a specific person the owner of the normal life of states does not have their rights to right nestled top best ownership to heirs because the life estate ends on the death of the owner so the way it works is Mike I'm gonna sell my property to you as long as your life the moment you die what happens to the property comes back to me see this is a feed eternal as well but the condition is specific it's somebody's life as long as your life property is yours and you can do whatever you want when you die you cannot pass it along to your heirs it comes back to me you got it now what if I named yasmin as a person to receive the property so upon your death she gets the property then she will be the remainderman concept is exactly the same okay because I said okay cool so that's what it says here reversion net interest all that stuff the life estate can also be tied to the life of the third party so I could say Michael the property is yours as long as Karen's alive not you're safe right Michael you got this she's gonna live forever Yeah right so he's gonna he's gonna have this property for a very long time when you die it doesn't go to your heirs when she dies is about to her heirs it still comes back to me you own it as long as she's alive you guys got again when she dies if I wanted to go to somebody else rhymes with jasmine same concept she's still to remainderman it's still based on somebody's life you're still the owner you got to keep her life otherwise you lose it she wins you guys got it yes so and what type of situations with somebody a crazy situation now usually uh us the mirror commoners not the wealthy people we don't come up with these strategies we should but we don't so it's very common that I'll sell to you and say it's a type of estates preservation that's what I call it I'll sell to you and eventually you will die because we all die I might not be alive most likely my kids will leave by the time you die I'm doing this for them if I sell ten homes with this clause that is yours as long as your life you're the one maintaining the property you're the one paying for taxes the insurance and all that stuff it's your property 100% yours look like a long-term renter that takes care of everything though because it's yours the benefit is once you die so you don't have the benefit of dying but the benefit is once you die it comes back to me or to my hair's so it's take preservation imagine if every property we sold who put that little clause there it's yours as long as you're alive tell me one contract that you that's I'm trying tell you guys read contracts every single line in the contract no the lawyer maybe so there's a title company maybe oh yeah they should but it's not their signature there yeah no but yes absolutely they should let you know that there's restrictions which these are covenants and restrictions right they should let you know that there's restrictions in the teeth meaning hey Anna you not the other in heaven hey Anna you're buying because she asked the question you're buying a property but there's appears to be a condition here it's based on Karen's life see Michael was trying to get rid of it was like I know Karen is young but you never know so Michael tried to sell to Anna and it goes buy the property and the title company says whoa wait a minute we will ensure but there's an issue here that you need to be aware of you might lose the property as soon as this person Karen loses her life has any sense so these conditions yes should be told to you does it always happen no of course you have the right to sue somebody whoever is supposed to disclose to you right and they're gonna say well you did sign the documents at closing and then they can say oh but I didn't understand and your attorney is going to go but you didn't ask it's always like that whenever there's something wrong is never my fault it was always somebody else oh I've barely ever heard of a person that's meaning to their fault right away saying no no you know what absolutely right I did this all right most people I hear saying yeah I did this right after that I did this comes but right have you heard this before either this but well he or you allowed this to happen somehow there's always a catch nobody that mitts out of free will and take the whole thing right Karen what did you do why did you do this all right as I was saying the holder of life estate has true ownership of real property the life tenant cannot however waste the property that is he or she cannot perform any acts that would firmly harm the land or property or destroy its value properties 100% yours Michael but you can't destroy alike tenants Michael you're in Silence of all the income and profit arising from the property but you're also responsible for the maintenance obviously and paying taxes on it it's pure ownership the only thing is down one condition that once somebody dies they reverse so you can sell it you can lease it you can gift it you just cannot will it because upon your death he goes to the previous owner you guys get no questions next we got the hour and courtesy does anybody ever heard of this before no all right so here's the thing dower is an ancient right in which a wife has certain interest to follow her husband's death in any real estate he owned in driftwood he got to let me finish the sentence because I know if I stop right there it's weird a wife has certain interests upon her husband's death if it stops right there it's really weird all it's trying to say Sonia before you get too excited its interest in any real estate that their own during their marriage got it courtesy is a similar right that the husband has when the wife dies for us is merely a courtesy because we usually don't flip women so all right down courtesy it's the way words went our curtsy was in effect and there's no longer in effect the darker season effect if I owned the property and we married it belongs to us if you owned the property and we married he belongs to us okay now as of May 28 1980 New Jersey has a bow the creation of any new Dyer courtesy rights and instead gives both husband and wife to write a joint possession of the property that is their main marital residence so now what is ours it's either the house where we live regardless of whose names other or properties we fight together you got it if I buy a property under my own name belongs to me if you buy a property under your own name belongs to you you got so this is title I'm not saying you're not gonna get sued over the property at the time of divorce right but I'm telling you that title this is all about title title is automatically both it fits the main marital residence or individual if you purchase by yourself okay still consult an attorney before you decide to sell the property you own by yourself okay or he's gonna get the money oh we talked about discrimination yesterday all right so notice how they're paying attention to this part okay all right first was Sonia somebody's dead husband's death I have interest great and spend on work Stephanie in the back is like me Sandra is like big smile I got this hey Monica's like eyes open I never seen the ice okay here you go ready the real estate broker us because read the extension on the broker must learn which rules apply in any specific gates in order to judge whether both spouses need to sign documents when only one owns a real estate where both the husband and wife are sort of owners both must of course sign any relevant documents and I already explained this in many cases a not only spouse must agreed to release claims of our courtesy or possession by signing a listing contract sales contract or a deed and that's where I want you to pay attention for real estate owned during their marriage by one spouse before circle or underlined with arrows bubbles whatever got put before May 28 1980 a surviving spouse as the rights of dollar or courtesy Dow or a courtesy and any document relating to the property should be signed by both spouses no matter which one's the owner so as I said already if it's owned before May 20 1980 doesn't matter who owned it belongs to both very good now this is a separate bullet point in this one I want you to underline put arrows put bubbles put stars whatever you got put to call your attention because if it's the family home or primary residences where you live then it doesn't matter feels before or after May 20 1980 it belongs to both already covered us even if only one is listed as the owner it's under my name it belongs to both it fits the family home only okay all real estate acquired after major in the 8th 1980 circle after mainly in 1980 that is not the family home underlying not the family home maybe sold by the owner only without signature of a spouse and we already cover this I already said it we're just putting i now by their highlighting stars and all that stuff okay did you guys get it easy right before making it Killeen 1980 doesn't matter who won it's 50/50 regardless right so when one dies the other one acquires the other fifty it becomes 100% okay Sony's confused that's right do it this is the new rule you see somebody confused smack and raise their hands and be like hey they're confused sodium about how to kill on your husband or you know and what you get after second bullets see this what I'm saying it's the bullet bullet points you're saying okay where do you sleep where you sleep regardless where you sleep no no God in the main house your husband sleeps in the same house okay but that's the point if usually that's the marital home it doesn't matter does it matter wounds it if you're married it belongs to Oh only marital home that's not fair it's not fair it's where you both live if you both live you both maintain if you both maintain you also both put money into the house it's under your name what's not fair is I've been maintaining this house that's right does it pretty much and that's why political points exist on you okay we don't wonder there's a prenup another five not long it's a little complicated but yes a prenup that's the purpose so that this is if there's no other contracts by law this would statement if you agree to separate the asset even though judge will still try to enforce this because it's a marital home and I didn't put money into it the prenup will be clear about it yeah if it's done right yes is it owned by both of our one did he put money too no question did you put money they put sweat equity meeting if you did some work in the property you did so you put money into it because time is California law says that it's worth ten dollars now released 24/7 so think about twenty three two hundred forty dollars a day that's what it's worth yeah children mom cookies what is investment property primary residence why no so there was a question asked I think that the question was based on if there's my name his name or my name is not there then how can they own it and they don't title it is why I said this is title but in the event of a divorce any crappy lawyer will be able to say just ask the same questions that I asked right which is in front of the judge this is title it's display but I can guarantee you the crappiest attorney will ask in front of the judge your honor this person has invested some time and effort into the property they have put money because it came up their salary together to conjoin salary from marital income therefore even though the name is not there he or she should be entitled to a portion of their real estate even though it's not on title that's how they would try to claim it and a judge will ask is it true that this person he or she did fix this did put that that maintained and put money signatures we're not talking a lot of any money I know but oh okay that's going on but it's what I'm trying to tell you guys this is title but you guys are asking me beyond yeah so that's why I'm profuse don't get confused this is title automatically after making the 8 1980 who owns the property if it's an investment home not only by both then it belongs to one if it's the marital home doesn't matter who owns it one or two it belongs to - that's title but just trying to be clear whenever you try to hide will bite you because again if I go there and I'm painting or fixing stuff even though it's not under my name I put what's called sweat equity work into the property and do not get compensated for it because they're saying and that's what the attorneys will try to grab on will they win maybe will they lose maybe but there is a shot even though by law if it's one person and it belongs to that one person okay you guys got it back if you pay your husband to set up yeah that's what he said in kind translating Portuguese pretty girls anyway you guys got title is immigrant than planes could be not be playing what's important is what it says right here that sellers should however consult an attorney before signing any documents without the spouse simple it is yours but there is a possibility that they might be able to claim it okay and you guys thought you were smart hiding a condo - what - an LLC so now your honor I would like to know why the defendant has transferred the property in the midst of a divorce and that transfer came with no gain the true value was $1 your honor very suspicious I say that this is fraud two companies it wrote me any angle I'll put you in the court of law right now and you'll see how it plays out encumbrances what does it mean covers anybody ever heard of this incomers know something on the property yes but what I want you to write in front of incomers I want you to write cloud cloud not iCloud just cloud yeah we're gonna do gonna use eyes here just cloud all right so in conference cloud and I always give this example because to me it's the easiest example for people to understand every time there's a cloud over you you don't have the same spirit you don't have the same energy you don't have the same freedom like look at the weather it's depressing right a couple days ago we're in the summer now we're in deep winter right that's Jersey because fluctuates like that in the morning could be 70 degrees in the afternoon it's 30 degrees very sunny and then the night and range Jersey you never know when to be happy when to be sad when to be bothered or not right it's crazy so every time there's a cloud on you it limits the things you can do right who likes spring or summer anyway okay keep your hand up if you like winter okay just two people and kind of you like the cold you're not a true Ecuadorian it's always the last kiss it's always there's always the last beer don't go that partment disorder so anyway the point was most people raise their hands when we talked about summer spring and only a few people raised their hands going talked about winter why did you guys lower your hand boy talk about winter it's dark you didn't even feel like getting out of bed right like this let me stay here all right so it limits you it limits you and that's where we're talking about an encumbrance it's something that limits the property it's a cloud it's a claim lien charger liability attached to and binding on real property it affects or limits its use as we just said right now even the value or title so the governance is anything that's attached to the property that affects the use value or title you got exactly could be taxes it could be a mortgage you could be somebody's rights to your property like a shared driveway you got because we have a shared driveway he's like oh yeah not buy this house or it's not worth as much as the same house but with its own driveway you guys are saying okay now income versus maybe divided into two general classifications we have liens and we have physical or usage recombinase so we're gonna start with liens in front of liens I want you to write money money that's what it is in front of liens I want you to write money why because every time you hear the word lien we're talking about financial claims so when you look at the answers every time you hear the word lien or see the word mean you look at the answers you're looking for anything that has monetary worth you guys got gold so a lien is a financial claim against property that provides security for a debt or obligation of the property owner if the obligation is not repaid the lien holder or creditor has the right to have it paid out of the property usually from the proceeds of a court sale foreclosure cut proceeds of court sale is a full code for bloater we'll talk about it later then liens can be classified as voluntary these are involuntary these thinking about the words forget real estate forget everything else thinking about the word voluntary what does that mean William what about involuntary not willing by being forced all right so can anybody give me an example of a voluntary lien something you want you're willing to do something against their prior good a second mortgage how about the first one didn't you want to buy the house so you asked for it hello money and they said yes I'll give you the money if I can put a lien called mortgage on the property so a mortgage first second third fourth doesn't matter you asked for it therefore it's a voluntary plea got involuntary is something you do not ask for example [Music] taxes did anybody ever say hey tax me no does anybody walk around with the board says hey please talk to me I'm right here touch me please anybody no but it's there you're being forced to pay something that you didn't ask for mortgage you forced to pay it because you asked for the money to buy the house you guys got voluntary involuntary and then we have general and specific liens a general lien affects all property real and personal property that you own specifically it is attached to a specific property for instance mortgages or taxes are against a property only if you have B property C property and so on they have their own independent liens they're only defend the mortgage or its axis so if you stop paying on this property will it affect this one no because it's against this one only it's a specific lien a general lien affects probably a probably be property see your checking account your savings account your IRA your fallen K your taxes your driver's license your real estate license your passport sounds like what higher IRS is a general lien it also sounds like what child support generally these are the two most common self support even take your life this way and your password you'll be able to travel at all you guys got it child support you made them pay for them it's as simple as that big either that or go to another country that doesn't have extradition because it's a crime wait Ukraine that has nothing to do with wants to have this frisbee OH make sure you have to do that there's a couple places that have no extradition in Russia in that figure there's a couple countries that don't I can tell right now we do have a structural engineer but I can't I can't let you I'll take you to Niger there the water yourself you leave that gate King the water and it strikes me it oh yeah you know all right so yesterday we were talking about scan I'll turn this off we'll figure out how to do this and then I just go to Nigeria yeah just go so I don't feel okay cool telling you he used to be a math teacher for a reason Oh numbers we call them the math teacher just that's the code name distrito change right all right cool did you get whatever she was explained I'll just giving you guys time to finish this what's that a question in both third okay all right so don't worry cuz when I go back to the audio that picks up everything and I know that's why I usually ask you guys to uh if you have questions ask me because this for some reason this camera is funny whatever's behind it it catches better than whatever's in front of it so I'm talking loud but it still picks up every single sound of everything you do if you guys watch roughly three weeks ago I had somebody in this class sitting in the front and coughing all the time and I asked that person to please stop because that's the only thing I'm gonna hear and people at home doing thing they're gonna hear she's already that's why their personnel sits in the back it wasn't me now see I didn't say your name that's it so nobody I'm whole knows it it's Ana silver okay oh yeah that's why she's alright so effects of leaves on title what was the lien against money and so effects of financial claims or money you owe on title it says although a property is not worth as much when he has liens against it the owner is still free to sell it to someone who's willing to take the encompasses along with the profiting see I have a mortgage I can sell you the house with a mortgage you just take over my mortgage you make the payments if you're willing to simple as that what he needs to know is that encompasses which are liens and other kinds they run with the land not with the property owners so they go to real estate so if I sell the property to you they'll still come take the property if you fail to pay I'm not longer there but they still come against the profit okay now these are still finding after sale but liens except for property taxes and special assessments to not survive foreclosing and we'll talk about that better than the second liens attached to the property not to the property owners start dannyelle I know ok I just got a message that says I know I'm sorry I wasn't looking at the screen so I don't know exactly what do you know but it's good to know just tell me what do you know and I'll tell if it's ok it is ok now priority of liens I'm already guessing who Daniel is but I see if he pronounces himself hey right priority of liens what is prior meaning who goes first right so the priority of the lien determines the order in which debts will be paid off in case of a foreclosure real estate taxes and special assessments for improvements that enhance the value of the property generally take priority over all other liens he knows about Ana so even though I said nobody at home knows that it's Ana Silva that's what it was that you got I know you know the rather world you're going to make a lot of money I'm telling you with all the publicity I'm doing already for you that's what it is listen I would do marketing for Allied brothers but they told me they would only go if make do marketing for me if I mean marketing for them so stuff it's bad so what are you the sister says allied brothers and say all my brothers and sisters I'm saying yeah I'm sure I'm not the only one yeah but then think of the look at roofing windows and siding and then they go okay hmm here comes a scrim ination sister yeah I don't think she's going to be doing my siding it's a discrimination part of it we talked about this it's sad you should I mean you shouldn't get this for Navy all right other outstanding liens please not like I know like knowing that the roof is five years old [Music] way it goes lady selling your room anything but that's what it is absolutely so Mike drop that was the payback from you know that's why we keep him at a distance from each other hey so she hasn't hurt while her brothers have a company and they put her in the office as a manager have a company which does roofing siding windows so exterior work she does not want to work with Nigeria doesn't have a card instead of managers you say the sister I just won manage the company abilities but I no but that's unfortunately unfortunate people still do that certain jobs are not meant for women that's what they have in their mind or men which people have to have in their minds so it is it sucks but people do have that their heads anyway so as I was saying before somebody said they're confused right here outstanding liens our pains in the order of their priority which is normally determined by please underline the date of recording in the public records of the county where the property is located so if I want to record a lien like a mortgage I have to go to the county records and say hey I'm here to put the flag down and say I'm here whoever puts the mortgage lien first becomes the first thing over whoever puts second becomes the second lien holder and so on is based on data recording so in the event that foreclosure who gets paid first taxes and special assessments then then what you were saying whoever records first got so first taxes always and then it's whoever records first okay if there's enough money to pay everybody else great if not everybody else gets wiped out by the sale you got it first taxes then first mortgage that second mortgage third mortgage and so on or liens and so on to figure out for a second or third how do we talk about bullets before life-threatening situation hey mortgage liens were already covered mortgages right you asked for money and they put a lien against the property called mortgage lien on the right hand side on top we have constructional means constructional liens also known as mechanic's liens can be placed against real estate by workers who have contributed labor and material to that specific property and who have not been repaid o paid I'm sorry we have not been paid so if you do construction work or deciding the roof and all that stuff you expect to get paid by the time you're done right if they don't pay what do you do you go to court no you go to court first it was important you get a judgment and that judgment becomes a lien now the thing is a court proceeding or litigation could take years right so to protect your interests as workers this type of lien is retroactive meaning it goes back to when the the working question originally began or Mattila was first delivered so we're saying is even though the judgment comes later it's as good as if it was in the beginning when you deliver the work or material you guys got so to make it clear if 2005 you buy the property you get a first mortgage 2006 you do some work but you don't pay 2007 because of the work you did it increased in value so you get a second mortgage okay from 2006 and on we're in court three years later in 2009 we get a judgement so in the event of foreclosure who gets paid first taxes 2005 mortgage then construction lien is retroactive to 2006 when the work was done and then it's the second mortgage you guys got it Construction liens they go back in time their effective number thunk now as if it was then they go back in time to the day that work was done core material was delivered so anything that happened after that while we're in court its secondary so even though the judgment only comes and the lien only comes at this point everything that happened after their construction or delivery material anything after ok its secondary to your construction a partial payment for what not conversation work partial beautiful was $20,000 got paid seven okay did you get paid 10 as a deposit that you get paid 10 because some work was done did you get paid big ten because you completed and all I gotcha was ten all this comes into play if it was a deposit it's prior to work beginning so yes retroactive part you big part of the work why because part of the work was done and not completed and that's a different story let's fight for it you big part of the work but the work was completed you all the rest yeah it goes back still correct foreclosure if there's not enough money they will get wiped out well no for as far as will always receive something the night they might not get paid everything because if you sell the house our clothes are for the price of taxes something is definitely wrong with a house falling apart it's contaminated it's like a big disaster that's to protect you when we got to chapter 12 we'll talk about the 13th we'll talk about that it's to protect their interest capsule my question is on this case if how it gets it probably gets old before they come to the end of their judgment to the construction okay if there's a lawsuit actually hold on to that but first thing okay because we're going to into judgments and then that so judgments what is it judgment it's a decision when it says decree which you guys need to know whether decree means so it says the Creon to the right decision or order of the court decree is a decision or order of the court all right next next page so addressing service question we have something called list penance Liz pendants Liz pendens means lawsuit pending lawsuit pending in front of espheni's right lawsuits pending okay so addressing your question elisa pendants and you guys can highlight what's here police pendants is a notice in front of lawsuit pending if you wanna can write notice as well elisa penance is a notice that there's a lawsuit pending somewhere now where do we file lawsuits in court court is now where we file records records going to county public land records you got it so here in county we're filing a list pendants which is a notice that says hey there's a lawsuit pending over there in court that might affect your property so you're asking if the house gets sold and there's the lawsuit pending that's what the lists been is supposed to give as an alert to a buyer because when they pull title when the do title search is supposed to be there and say hey all these things are here let's figure out what's going on there does that make sense you got it's an alert to the buyer to protect their interest in the property in fact do you guys remember I said that encumbrance was it cloud says right here at this pendants creates a cloud on the title until the loss ourselves so it encompasses the title and limits the ability to sell it limits its value because until that is decided in court right nobody should be buying this property so it limits what you can do with it it's an income it's a cloud you guys got questions questions I'd like to beat it next we have easements in front of easements I want you to write right in big letters in front of easements you're the right right these are just quick notes such as you look at the bull points so it's a reference or the topic so it's a reference in your mind of what it is I know it's already in the rest of the text but right there easement it's a right a right that I have in someone else's property so our rights acquired by one party to use the land of another party for a particular purpose is a an easement very good now there's even appurtenance and there's easement in gross where it says even appurtenance and easements their grants rights to an owner of an adjacent parcel of land is an easement of herd so where it says adjacent parcel even a circle where it says appurtenance even a circle because that's what it means it means there's two properties attached to each other one belongs to me yellow belongs to you right because if both belongs mean I don't have a right in somebody else's property it's my property so to prop is attached and I have our rights to use your property for a particular purpose you might have a right to use my property for a particular purpose like a shared driveway you got it you use half of my driveway I use half of your driveway and together we have a whole driveway these benefits in this example here you guys look for example a a and B on top they own separate property so a lot a lot because you I'll know in my example here in my screen you cannot see the lines clearly but there's a property line right here that's a lot B this is latte if you guys keep on reading it says that they are in the resort community and lots a has a lake that shares with the community for people to access the lake they need to go through lots a so in this example lot B has an easement of pertinent where they use lot a to get to the lake they need to get there it's part of the community part of the benefits so it's a a right it's not something that you you can tell a lot be like hey get out of here Kent it's a right acquired you guys got it okay now the same token there will address this for a lot aid to get to the public roads they need to go through lot B because they're a landlocked there's no other way to get through the public road if not through lot B so they have an easement by necessity they have a need to use your property to get out you guys got now in easements there's somebody who is dominant somebody who is Serbians so the tract over which and these were runs is known as the Serbians estate the track that is to benefit from the easement is known as dominant estate so saying is simple if you invite me to your house you are the host I am the guest who dominates the host for the guests the guests you know why because you're serving me aren't you putting food on the table yeah you're serving me aren't you allowing me to use your property I need to go to the bathroom please right this way okay you certain you you're the host so in this case a lot a is the post for the lake and a lot beanie is the guests and they're dominating because they're going a lot a and dinking advantage or have a benefit in lattes property you guys got the reverse situation is where lots a benefits from left B's property to get the pump wrote so in that scenario who's the host lot be who's the guest lot pay because to get to the public roads for me to get out of here forget this daughter for me to get out of here I got to go through your property to get out so I'm using your property and that's a right that I have I dominate I stomp stomp through your property to get out there and you cannot stop me it's a right did I have okay questions no okay so now we have easement in gross eastman and gross I want you to think about utility companies so how much is right utility companies it's not only utility companies but utility companies are an example easement in gross it's the simple right to use somebody else's property who's the property owner you own property so properly anybody else doing property great so property owners here's my question when was the last time PSEG asked you if they could use your property what was the last time for public water systems ask you if they could use your property and for maintenance did they ever say hey we need to know they never did but do they say can we or do they say hey this day we're going to be there same thing Jinja unit correct you're not asking for your permission they're telling you and you have to be more in that scenario they're not asking for permission we're going to do this that's what I'm saying so that's a simple right to use somebody's leg you got so next we have easement by necessity easement by necessity I already explained this to you if people are landlocked they need to use somebody else's property to get the public road they need to use it for ingress and egress of entrance and exits yeah yes no maybe okay few of you said yes can everybody say yes yes yeah just please me for a second that's all I needed to hear that you guys got it she then she had said yes already she was the first one to say hey you guys said yes so loud that one more person enters the live and said yes also okay so now we got Bryan and Daniel and there's somebody else watching but we never know where there's long as one silent one anyway one more easement by prescription on top of easement by prescription I want you to write or adverse possession which is a breeze Walgreens right now we're doctors now adverse possession and for squatter's rights you ever heard of those squatter's rights you know how to write to or you know we had the rice take over your Proctor I'll explain why in a second when someone has used another person's land for a certain period of time as defined by state law and easement by prescription may be claimed he usually I like to compare this to a hundred dollar bill have you guys ever found 100 of them on the floor in life not 20 okay fine $20 okay it's the most common right so you found $20 bill on the floor what do you do you look around we're in the getting set up yeah you put in your pocket right away you don't even like no not even find this key Wow you look around she looks around she had to return that was a thing I thought was also going to say it's Newark just run anyway all right here's the thing put you guys so $20 you found the $20 some of you would steal it because that's what it is you can put in a pocket right away without looking around it's stealing it is but if you waited a few seconds looked around and nobody came to claim it right because nobody goes around like wait a few seconds so you don't go around like lose $20 bill is this right you don't you got it so you waited a little bit few seconds like I said does anybody have a c34 hjj by 6 place yours I'll let you know this a I have a picture of you Carla somebody's thinking apparently it's leaking something it looks like it might be oil you want to go check it real quick I'm still talking about the $20 so real quick focus uh figures Deb so you can help the guy that asks me to change the light bulb in this car so yeah he does but he's smart though cuz he says all the time there's only three things I need to know in life I need to know what I know someone that knows what I don't know and that's pretty much all I need to know yeah he's smart why would he bother to learn how to change your bulb in the car somebody else can do yeah yeah yeah that's a problem all right now I was talking about 20 bills so they dollar bills on the floor you wait a little bit you look around like you were like the best then I don't know like the department so you look around right at least nobody's approaching nobody seeing anything then you grab because now somebody abandoned those $20 for real estate is the same thing but instead of 20 you wait 20 years 20 years using the property it says right here the clemencies must have been continuous hostile adverse to dealers titled exclusive and without the owner's approval also the use must have been visible open and notorious so we're saying it's simple if after 20 years nobody shows up to claim the property they have in effect abandoned the profit right some of you don't wait not even one second to put $20 in the pocket they abandon in its minor real estate in Jersey 20 years by law is what you have to wait other states is different like Florida is like six years in Texas depending on the way you do it might be only five years but good news is that tomorrow I'll show you how to do it in two anyway handle it up somewhere here I didn't get there you gotta bring your things okay now they're wondering what's the old lady saying things ahead of time anyway an owner can help the process by specifically granting permission for use or by cutting off continuous use I want you guys to underline where it says specifically granted because if you have a neighbor that's an old lady sweet old lady and a half dimension building let's say you have a neighbor three old lady and she all she does she's retired all she does his plans for gardening maintain the flowers and for some reason she believes that your garden should have flowers as well so she starts planting on yours she starts maintaining your cider and you're so happy because you're not a gardener so you tell hi there nice job guess what that's filled ladies doing for 20 years 20 years later she complained that section that she's been maintaining right she won't be alive but that's what it is the purpose of this is not this we love ladies for you guys to understand that any body maintaining your side of the property if you don't say specifically it's okay for you to do this or if you don't cut off the use they could 20 years later continuing through the same thing 20 years later they could claim that portion as theirs you got it yes okay you're thinking now somebody's been there that's your property so this class there was a pro there's a con some people realize oh wait a minute I've been doing this other people liked him my name is Ben Lewis you oh the neighbors well I never said that I have to do it personally if property needs to be maintained yeah well jump into defense so carefully which I'm saying that exalted offense I mean it goes through the friends I mean I guess encroachments in a second but if the encroach is the same thing after 20 years somebody can click alright so we're going to look at statistically how many people win the Mega Millions how many but do people still win the mega meals yeah yeah do people win something not everything that happens way more often right instead of 10 million you win 100,000 correct those happen a lot 200 thousands of 200 thousands yeah so I'm not winning the whole house that's winning the Mega Millions they're winning a portion here it happens a lot and Raquel is asking how can they prove that in court well you gotta have witnesses or documents what you do take pictures right honey or very simple when you go in front of the judge it's under penalty of perjury right so you cannot lie if you lie could be fraud you could go to jail and you lose weight more than just a little corner of the house so it's up to you you choose the easiest thing to do is yes we don't lady it's okay for you to do this so I give you specific permission because later on when we're in court your honor but I did give specific for me what's the best way to do it put it in writing I am okay with you especially in your situation I am okay with you jumping over the fence to trim because then it says put something in writing hey just want to make sure because it's the icest way to say this I just want to make sure in case they get injured on my property you're the one that hired them so I just want a little okay it's okay for them to continue the job on this side now I have something in writing that says you gave specific permission therefore nobody can claim your property okay now the question is this comes from bidam is there any mechanic in the house no I thought you're going to sit now okay so let's start an antique piece check if it's green it's not oh no I just told him what was she can go ahead exciting now there and like me kind of got wings we're doing any what up sectors or whatever yeah so they happened in Texas where somebody won the property for sixteen dollars which was the cost over there to file the proper paperwork man that happened in Florida where this kid got a three point four million dollar mansion with a simple process without having to pay for everything [Music] how's interesting yeah one question I'm sorry translating well there's a process need to file a public notice that that's what you're attending to do so everybody in the world must know what you're doing one file don't stop go so what'd you find there look II was gonna get the property you have to give the letter to everybody around us on the problem the house is not yours but hey I'm putting a claim on this property if anybody thank you no screening that so if anybody has a claim or a dispute of me doing what I'm doing then you have X amount of days depending on the state to show up and complain about it the property could be a paper you guys seen those two little tiny letters all you have to do is put a notice nobody said I have to put a billboard I'm cleaning this house no just to notice so everybody can see and you have to file depending on the state they have different laws you have to follow also in the newspaper so local newspaper that you were doing this once the the notice period has ended you can remove everything live there until the 20 years have passed or the floor the six years or it takes us five years and so on pretty much she wants us to people's property no somebody else yes remember it's in the bedlam claiming you've found the $20 so you found an abandoned property okay now you need to look for easement by prescription adverse possession or squatter's rights procedures in your states once you have that then it tells you exactly how to file it it's legally claiming or stealing somebody else's property because they effectively abandoned the property now the question is you're going to feel bad about it no because it's either you or the town if it's abandoned somebody's gonna take the problem simple stop driving around over the probably look you're gonna put sebastian doing something right how are you like i I got you tell me this we could have been driving around it's called driving four dollars by the way you guys ever come up with that come up across courses like that is drive four dollars drive around you find properties then you would benefit or somebody else you know will be able to purchase and benefit from and you get paid for it anyway how much they pay for this course you need to start charging more anyway you see a problem is not binding know that leave there what it does I love changer that's it is that a lot yeah well I long to be to the entrance to the compound on Jenny what I've heard you talk about it was never there it's a great area technically if you break in it's trespassing technically but it's the same thing as weed right now the laws in New Jersey and letting you know right now like federal law is still a crime jersey allows you to if you have medical you can you know crow it if you have to license but the thing is because it's a federal crime where did it come from New Jersey they don't ask you as long as as long as you don't get caught transporting it into Jersey after it's done and you're growing it nobody bothers you so that's what I'm trying to tell you with the with this process right here if they catch me breaking and entering you go to jail every door has a lock but this is legal so there has to be a way in right and now I'm not telling you guys to go and break and enter to people's homes do not do this before no especially after blockbuster you guys already know how to scare people out of their homes right it's still trespassing you entering somebody else's property and trespassing but who can claim trespass the owner is the owner there so with that being said if the police see you breaking a lock it's breaking and entering if you're inside the property they're not questioning you are you the owner that's what I'm trying to say it's a gray area you're right there so you gotta be very careful because you know you could go to jail so before you do something like this and let's move forward because I need to move forward so before you do something like this what should you do learn the laws the rules of regulations to this particular procedure or listen to what I'm going to tell you tomorrow and we'll do the same thing but without having to break locks and without waiting for the ears you do it in two years okay children you know what Anna I'm sit in the front so yeah go sit in the back it's them two I'll tell you my Karen so quiet here right stephanie is quiet and these two distracting not not you and at the other end it's all right that's why that's why you look at me like that so the other end that comes in the front that's it okay no nigeria's turn to the wall that's what we said well first of all terms in Portugal something would be thrown at you probably this is watching my speakers all right you guys good tackle right up up tacking I want you to write stacking so it's the same thing but put an s behind it stack the ones at home are probably like thank God I'm not in that class of getting there but yes so where it says tacky I want you to write stacking what does the word stacking mean my luck right so tacky is piling up of successive periods of time meaning okay surgery you were there for five years in those five years you said you know what this is really risky let me get rid of it and then Henry came along says hey I heard you're gifting or donating or selling your interest or a potential claim of this property so you sell it to him your interest on the property that's not yours tell me I'm gonna kick you out of class seriously other Ana this is a serious debt serious note hey so you took over and you're there for ten years okay so you were there for five you're there for ten and then I show up and not buying the rights from you what's the total I found here for another five years five ten plus five is okay twenty years what is the adverse possession time period twenty years so tacking is pretty much stacking or piling up the successive periods of years to meets the 20-year prescription that means I don't have to be there for a whole twenty years you can be there five you're there ten and then I'm gonna five the total is 20 I can claim how do you prove that before they ask me at home and or you guys asked me again with mrs. the neighbors electricity bills newspapers that run all the way back and you're taking pictures with it today's a lot easier because we do selfies all day long right and it's clear you can see the years have gone by based on the type of app you use so as I said you under can halt and kick you out no you have no claims until 20 years later and even for you to have a claim you must take legal action to perfect the easement so for you to really have a claim on it so 20 years later you have the rights to it but you don't have an actual claim so anytime during those 20 years right somebody can kick you out your neighbors go call the cops or the owner could kick you out right it's caught you will be an ejectment not a big fiction your attendance here you're not a tenant you're illegally trespassing the person living near the squat if I consume if they destroy the property yes if not I'll be happy to just get out please I will not sue you thank you for everything you've improved on my crappy [Music] ejectment first call the cops if they don't leave because they've tried to claim some type of rights then we go to court and it's called an injection what the ejectment it's faster than addiction you're a trespasser [Music] you cannot destroy the house but can you if you're a trespasser and now you're getting sued big time taking your things is one thing destroying the property is another taking your things is one thing because it didn't belong to the owner to begin with then obviously I'm gonna sue you for all the damage that's damage okay good anyway not important for static Sam correct make sure if you guys ever do something like this learn the procedures the rules and regulations to get this done okay next party walls what is a party wall no not that that party it's a wall that separates the ownership between property eighty of property P so if you have a duplex or if you have a townhouse or if you live in the condo right there's walls that separate that owner from disorder correct these are called party walls now we are talking about easements or rights that somebody hasn't somebody else's property correct so a party wall comes with rights they have a right on my half of the wall because I need to maintain it and support their half and they have a right but I haven't rights on their half of the wall because they have to support and maintain my half because if I destroyed this what's gonna happen to all it could collapse it could get destroyed right so it's under rights that person has a right on half of my wall I have a right on half of their wall you need to maintain it you guys good okay right hand side on top so everything into these with is easy just mark the bullet points I want you to go through it says licenses where it says licenses I want you to write permission or privilege permission or privilege that's what I told Pedro that's the antifreeze royal oil is not green okay it's still drivable it's just if it drops the temperature he might freeze but we don't we're not having freezing weather so you don't have how much of a problem says mechanic so you have a liter plate okay do you watch ripple insurance probably do you have insurance yes you have roadside assistance so the first thing you do is you call the insurance company see if they have roadside assistance and you can call them up which insurance do you have my answer so you should come with the policy if it's if you have full coverage is liability only then you might not happen so call your insurance first and figure out okay but if you need triple-a or anything like that let me know hopefully I'm sorry hopefully hopefully is a service for somebody to come here and have an opportunity to play on the membership that's why I believe it is because there's no Oriole that's brain all right let me let me finish this chapter real quick is just this page break and then we'll talk oh sorry from her so licenses permission or privilege does anybody have a driver's license what does that belong to hold on he belongs to who the state of New Jersey doesn't belong to you so can the state of New Jersey revoke your license yes so just like your driver's license a license is me allowing you to park on my driveway for instance and you can be revoked I allow it to park today but tomorrow I can say get out it's not a right that you acquired whose permission for that particular thing it could be withdrawn ok it's not a permanent right that may be withdrawn next we have encroached months in front of encroachment I want you to write illegal extension illegal extension so it says when part all are part of a building fence driver or any other installations illegally extends beyond the land of its owner and it covers some land of an adjoining owner or street or alley and encroachment arises so let's say I have a fence that separates us this fence belongs to me and I want to upgrade the fence because it's the the metal mesh one and I want upgrade it to the vinyl White's 12-1 right so I'm gonna remove this one I'm going to stall anyone somewhere around here I just gained a foot or foot and a half times 100 okay if after 20 years of this encroachment or illegal extension into your property if after 20 years you did not say anything you do not say anything to us that's right it's not mine but I can claim this okay look at that encroachments for 20 years may give rise to easement by prescription so all we need to do is start moving fences [Music] lastly the last thing thank you very much last thing deep restrictions we're going to talk about that in Chapter 9 but these restrictions are restrictive clauses added to a deed when the property is conveyed that are established by the seller to restrict future owners use of the property so I can say the property is yours a long ass it's a restriction you can or cannot do certain things with your problem isn't that one of the things we start with this job summaries break ok guys we'll be right back you get home