{"id":6893,"date":"2020-03-13T19:47:42","date_gmt":"2020-03-13T23:47:42","guid":{"rendered":"http:\/\/privacyfight.io\/?page_id=6893"},"modified":"2023-06-23T09:51:17","modified_gmt":"2023-06-23T13:51:17","slug":"equity-stripping-part-1","status":"publish","type":"post","link":"https:\/\/privacyfight.io\/equity-stripping-part-1\/","title":{"rendered":"U1 &#8211; Equity Stripping &#8211; Part 1 &#038; 2"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"6893\" class=\"elementor elementor-6893\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f115460 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f115460\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-abf28b7\" data-id=\"abf28b7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9669199 elementor-widget elementor-widget-text-editor\" data-id=\"9669199\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"vidseo_wrapper\" style=\"width: 100%;\">\r\n\r\n    \r\n    \r\n        <div class=\"vidseo_vimeo\">\r\n\r\n            <iframe title=\"vimeo-player\" src=\"https:\/\/player.vimeo.com\/video\/715763204\/?\" width=\"100%\" frameborder=\"0\" allowfullscreen><\/iframe>\r\n\r\n        <\/div>\r\n\r\n    \r\n    \r\n    <div class=\"vidseo_collapse\" style=\"\">\r\n        <div class=\"vidseo_btn\" style=\"\">\r\n            U1 \u2013 Equity Stripping Part 1 &#038; 2\r\n0:23\r\nHi, everybody.\r\n0:23\r\nThis is John Jay Singleton, and I\u2019m going to show you how to put a lien on equity equity.\r\n0:31\r\nI can real estate, and let\u2019s talk about a residential home. Let\u2019s say you have so much equity in your house.\r\n0:39\r\nYou have a mortga&#8230;        <\/div>\r\n        <div class=\"vidseo_collapse_content\" style=\"\">\r\n            <p>U1 \u2013 Equity Stripping Part 1 &#038; 2<br \/>\n0:23<br \/>\nHi, everybody.<br \/>\n0:23<br \/>\nThis is John Jay Singleton, and I\u2019m going to show you how to put a lien on equity equity.<br \/>\n0:31<br \/>\nI can real estate, and let\u2019s talk about a residential home. Let\u2019s say you have so much equity in your house.<br \/>\n0:39<br \/>\nYou have a mortgage or not, it doesn\u2019t matter, but let\u2019s say if you sold your house, you would get, let\u2019s say, $50,000, right?<br \/>\n0:45<br \/>\nAnd if someone sues you and got a lien to, whatever extent the lien was worth that would encumbered a portion or all of that $50,000 unless you had place to lean before the next person.<br \/>\n1:03<br \/>\nIt would prevent it.<br \/>\n1:04<br \/>\nSo right now, there\u2019s no one in second lien position, only, or mortgages in Bursley position.<br \/>\n1:09<br \/>\nSo what you\u2019d want to do is put Elaine that you control, you can have your company on it. Now, if you\u2019re the title holder, you can\u2019t be the lien holder, I mean, not legitimately.<br \/>\n1:19<br \/>\nYou would cloud the title, and it would be easier, challenge, So you need a company.<br \/>\n1:24<br \/>\nI need a trust, or limited liability company, I like the LLC, because then I can parcel out the actual ownership inside the object.<br \/>\n1:31<br \/>\nWe can talk about that later, But let me just show you the mechanics of how to do this.<br \/>\n1:34<br \/>\nThe first thing you need is a lien instrument and it\u2019s very easy to get one without buying one.<br \/>\n1:41<br \/>\nThe government has Lean instruments, you can download and modify, and I\u2019ll show you how to get those.<br \/>\n1:47<br \/>\nSo let\u2019s do this for Georgia.<br \/>\n1:50<br \/>\nThis picked Georgia, one of the states, and let\u2019s pick Monroe County.<br \/>\n1:56<br \/>\nAll right.<br \/>\n1:56<br \/>\nSo, we\u2019re gonna pick my, we\u2019re gonna put a lien on some residential property in Monroe County, Georgia.<br \/>\n2:03<br \/>\nFirst thing you\u2019re going to need, really, when you start this process, before you go to Lean instrument, I\u2019m going to show you how to get this page, By the way.<br \/>\n2:08<br \/>\nI\u2019m not going to just click over the, I\u2019m going to show you how I did that, but what you\u2019re going to need is the legal description of your property. You can get that from your current documents, like your mortgage should have it.<br \/>\n2:17<br \/>\nThe mortgage you already have, or your quit claim deed, QU IT, claim deed, OK, the quitclaim be able to describe the property by its mailing address and by the legal description, the metes and bounds, or the lat name, things like that.<br \/>\n2:37<br \/>\nIf you don\u2019t have that handy, you can go online, right? Like this. And you can search on, let\u2019s say, rho, county tax, Appraiser, Right. They\u2019re all online.<br \/>\n2:49<br \/>\nYou get to the Tax Prejudice website and let\u2019s see, here we go.<br \/>\n2:54<br \/>\nThis is Monroe County property portal.<br \/>\n2:58<br \/>\nThat\u2019s what they call it.<br \/>\n2:59<br \/>\nUsually if you search on a street and a house number or street, you can actually are searched by the partial ID. If you happen to have, like, say, for example, the receipt from their last tax bill, property tax bill.<br \/>\n3:11<br \/>\nIf you key in the parcel ID here, you can search on it and you\u2019ll get a receipt or a bill for the previous, or the next property tax bill, OK?<br \/>\n3:21<br \/>\nAnd, usually, on that, will be a legal description of the property, usually.<br \/>\n3:26<br \/>\nSo, that\u2019s where you start. You can, you can copy it like this. For example, let us say, this happens to be the legal description, but says, Not. But, we can actually highlight it.<br \/>\n3:34<br \/>\nOK, and right click it.<br \/>\n3:36<br \/>\nAnd Copy, Or we can do a control C on the keyboard, and copy that text, and put it into a file, and just use it later, OK? That way you have to re type it. Either way you want to do it.<br \/>\n3:46<br \/>\nSo now we know how to get the legal description.<br \/>\n3:50<br \/>\nAnd that\u2019s what we start with.<br \/>\n3:51<br \/>\nNow the lien holder can be your LLC and its address can be the same address of the property, or it can be a PO box or mailbox or someone else someone else\u2019s residential Where you can get? mail?<br \/>\n4:03<br \/>\nIn the lean instrument, and let\u2019s see how we do this, so I arrived at this page. I\u2019m gonna tell you how I got here.<br \/>\n4:09<br \/>\nI did this.<br \/>\n4:10<br \/>\nI searched on Moses Freddie Mac you can go like this.<br \/>\n4:13<br \/>\nFannie Mae.<br \/>\n4:16<br \/>\nFannie Mae then you could do securities\u2019 instruments The correct terminology.<br \/>\n4:23<br \/>\nHere is that you want a security instrument, and Fannie Mae and Freddie Mac have these available for download for free. I\u2019m going to use that resource, So here we go like it shows you I\u2019ve already been there, right.<br \/>\n4:37<br \/>\nSo, Click on that link, and if I scroll down, well, look at that.<br \/>\n4:41<br \/>\nI\u2019ve got lean\u2019s, I even have instructions, don\u2019t need those, but I could pick whatever state it just so happens to be Georgia this time. So we come over here and look the form number that they even have a form number by state.<br \/>\n4:54<br \/>\nPretty cool.<br \/>\n4:54<br \/>\nWe just need a standard mortgage, which is a trustee Can we click on that ad?<br \/>\n5:01<br \/>\nIt opens up.<br \/>\n5:08<br \/>\nHopefully, you can see this.<br \/>\n5:12<br \/>\nLet me do a share again.<br \/>\n5:14<br \/>\nMake sure you share here.<br \/>\n5:19<br \/>\nShare didn\u2019t get the hang of this Hoppe.<br \/>\n5:29<br \/>\nAll right, So now our attention is focused on this lead.<br \/>\n5:48<br \/>\nOK, so, as you\u2019ll notice, here\u2019s a spot where you put the name and address of the individual, where you want the recorded version of this, once it\u2019s been recorded, then stamped by the clerk of the court, the original will be sent back to wherever you want.<br \/>\n6:03<br \/>\nSo, let\u2019s say, Sam Clemens is the Property owner.<br \/>\n6:06<br \/>\nIt can be two people.<br \/>\n6:09<br \/>\nI\u2019m gonna. I\u2019m gonna need to go to one. I\u2019m gonna do a screenshot of one that\u2019s.<br \/>\n6:13<br \/>\nActually, I\u2019m going to save this.<br \/>\n6:21<br \/>\nOK, so, now that I\u2019ve saved it, now I can edit it, all right. So, let\u2019s say Sam Clemens is the Property owner.<br \/>\n6:32<br \/>\nNow, if you\u2019ll notice right over here, on the far right is where the Clerk is going to put the stamp or seal or whatever, and then record it.<br \/>\n6:41<br \/>\nAnd there may be like a recording number, identifying locater numbers, and all that stuff at the top right corner.<br \/>\n6:48<br \/>\nSo, all the space has to be available.<br \/>\n6:50<br \/>\nBut Sam Clemens and let\u2019s say his addresses for a couple hundred Peachtree.<br \/>\n6:59<br \/>\nHistory.<br \/>\n7:01<br \/>\nIt\u2019s going to be, uh.<br \/>\n7:06<br \/>\nI just made all that up OK, by the way, But when we don\u2019t want to close up the space, we want to keep it open, because the clerk wants about two inches or three inches or something over here.<br \/>\n7:15<br \/>\nBut, we can do this to make it look kind of nice, Leave that like it is. OK, the clarkes going to use that.<br \/>\n7:23<br \/>\nThen, we come down here, we\u2019re going to complete the Lean instrument.<br \/>\n7:25<br \/>\nWe have to give the information, so the Lean instrument is going to be dated for like, that the month after you\u2019re doing it. So, let\u2019s say next month. Like, in my case, next month, next month, it\u2019s gonna be December.<br \/>\n7:35<br \/>\nAnd it\u2019s going to be that instruments can do data for the first year, first of the month? That\u2019s just the data I pick. The most important date is actually the date It\u2019s going to be recorded. But right here, we\u2019d have to have a reasonable big data for like 722 right.<br \/>\n7:50<br \/>\nObviously, So, the borrower It\u2019s going to be the current titleholder.<br \/>\n7:57<br \/>\nSo, let\u2019s see there, Sam Clemens or Sam and Elisabeth Clemens, right? Whoever currently owns the property, it can be anything. Whatever owns the property, it could be a trust owns the property to do it that way too.<br \/>\n8:08<br \/>\nThe borrower is going to be titleholder because the title holder wants to borrow against the property and put a lien on his interests.<br \/>\n8:16<br \/>\nSo that\u2019s why we have to name the borrower. So, in this case, it\u2019s Sam Clemens.<br \/>\n8:22<br \/>\nAnd the lender\u2019s going to be his company.<br \/>\n8:26<br \/>\nLet\u2019s just call it this, right?<br \/>\n8:31<br \/>\nAnd the lender, what is the lender, or the lender, is actually a limited liability company, OK?<br \/>\n8:40<br \/>\nAnd, it\u2019s organized, an existing under the laws of just so happens, right?<br \/>\n8:48<br \/>\nState of Georgia.<br \/>\n8:49<br \/>\nThen, you want to get rid of these underscores all so you don\u2019t need to.<br \/>\n8:54<br \/>\nThis is just for your guidance. It\u2019s good, and lenders address can be the same address as the title holder.<br \/>\n9:02<br \/>\nSo, just for convenience, we\u2019re going to go ahead and do that.<br \/>\n9:11<br \/>\nOK.<br \/>\n9:16<br \/>\nThere you go. So the node is going to be dated, though. Let\u2019s give it the same date as the security D here.<br \/>\n9:24<br \/>\nFirst, right, clumsy because I\u2019m not.<br \/>\n9:30<br \/>\nAll right.<br \/>\n9:32<br \/>\nStates are the borrowers, the lender, and let\u2019s say you\u2019re protected $50,000 in equity Now. we have to start out, actually, like, we\u2019re writing a check. You don\u2019t do that these days, too much, but this is a good $50,000. And zero on grits notice some spelling it.<br \/>\n9:49<br \/>\nOops, misspelling it, there\u2019s a D in there, OK, 50,000, zero dollars, that\u2019s the correct way of doing it, and then you want to put in 50,000, right, in numbers. Numerical value.<br \/>\n10:05<br \/>\nAll right, plus interest, and we\u2019re also going to get to that shortly here.<br \/>\n10:11<br \/>\nThen borrowers promised to pay this debt regular payments and to pay the debt and for no later than so what you do is you say December first is the date and note the obligation begins.<br \/>\n10:22<br \/>\nBut let\u2019s say that you have to pay it at least by January first, and we\u2019re going to add 30 years to 2019. So that\u2019s gonna make it too, though.<br \/>\n10:33<br \/>\nAll right, 30 years. The reason why I say 30 years is because I\u2019m going to amortize it for 30 years.<br \/>\n10:40<br \/>\nEven if the node is only going to last for seven years or five years or 10, doesn\u2019t matter, because we can make a balloon payment in here. I like to have this alive.<br \/>\n10:49<br \/>\nSometimes I\u2019m a little left brained when it comes to that.<br \/>\n10:52<br \/>\nAnyways, you get the idea here.<br \/>\n10:55<br \/>\nThat\u2019s what it\u2019s gonna look like.<br \/>\n10:57<br \/>\nUm.<br \/>\n11:00<br \/>\nAnd we want to make the, payment terms real, because, well, we don\u2019t want people to challenge it, we don\u2019t want it to be easily challenged, and I\u2019ve never seen them challenge, but still. That may be the reason because I make these correctly. I make them in a way that they can be negotiable, you can actually sell them.<br \/>\n11:17<br \/>\nShould be fake numbers here.<br \/>\n11:19<br \/>\nYou\u2019ll notice, we kinda skip all this language. We don\u2019t care, OK? This is standard language. You can read it if you want.<br \/>\n11:25<br \/>\nBut what we weren\u2019t really want to do is notice how there\u2019s, um the Senate\u2019s here kind of goes to the next page.<br \/>\n11:32<br \/>\nI would leave it like that cares.<br \/>\n11:34<br \/>\nBut, what you want to do is describe where the property is located or situated. Is the legal term for this situated?<br \/>\n11:43<br \/>\nIt\u2019s located in the, in the county.<br \/>\n11:51<br \/>\nRow data of George.<br \/>\n11:56<br \/>\nSee, there\u2019s a colon here, we can get rid of all this stuff.<br \/>\n12:01<br \/>\nNow, all this area, right in here, that\u2019s where you paste in the legal description that you got from the other documents, from your know, your quitclaim deed, or the county appraisers website, wherever the metes and Bounds are the lot number, the light description, then, here are just your Postal Address, right on the regular, like you see.<br \/>\n12:37<br \/>\nRight?<br \/>\n12:39<br \/>\nWe don\u2019t need any gobbledygook and here we go.<br \/>\n12:43<br \/>\nMore standard stuff.<br \/>\n12:47<br \/>\nLike me Got all the way to the bottom, and notice this is 16 pages All we care about is identifying the property correctly, and a real interest rate real loan amount based on the real reasonable equity of the property that\u2019s available, That we\u2019re putting a lien on.<br \/>\n13:06<br \/>\nNow, remember, once you\u2019ve filed this thing, I mean, you could put a lien for 10% over, that, that your equity that you think you have.<br \/>\n13:16<br \/>\nI wouldn\u2019t put it for too much more.<br \/>\n13:19<br \/>\nUm, and just keep in mind that if the property value goes up beyond the lien value, it\u2019s not protected.<br \/>\n13:26<br \/>\nSo or whatever that\u2019s work.<br \/>\n13:28<br \/>\nJust be aware of that.<br \/>\n13:30<br \/>\nI would put it for the most reasonable amount. You can go 10% over. I wouldn\u2019t go too much more than that, because you could open it up to be it being challenged.<br \/>\n13:38<br \/>\nAnd, by the way, you can do two of these two.<br \/>\n13:39<br \/>\nYou can do secondly and I\u2019ll put a third link because if you remove the secondly, the third link becomes the next link.<br \/>\n13:46<br \/>\nSo, if you really want to protect your property you can put you can put like, 2 or 3 more liens and who\u2019s going to challenge a third or fourth Lean, that\u2019s not real when it\u2019s not going to help him out.<br \/>\n13:59<br \/>\nEven if he challenged the third or fourth lane that you put on because he\u2019s the fifth Wayne as a judgement creditor, what benefit is it going to be?<br \/>\n14:07<br \/>\nSo you may, you might want to consider, you know, Doing this, and then doing another lane, like next month, or something.<br \/>\n14:13<br \/>\nJust two to be enough, and that, and that second one, Which will be the third lien position after the mortgage will be the mortgage yearlings.<br \/>\n14:19<br \/>\nAnd then the second lien you put on it wouldn\u2019t really be worth anything that day, But maybe it might be in the future.<br \/>\n14:26<br \/>\nSo most of the time.<br \/>\n14:28<br \/>\nI don\u2019t do that OK, so here he can have a friend Someone who\u2019s not a party to this title or instrument Be the witness, you can sign it, right, so All right.<br \/>\n14:43<br \/>\nSam Clemens is the Borrower and, you know, maybe maybe Sam and Elizabeth, right? I would recommend that all titleholders do this.<br \/>\n14:54<br \/>\nyou could have one of the titleholders put a lien on the property, I just think it\u2019s better if all the title holders put Elaine and make them all themselves, all the borrower.<br \/>\n15:04<br \/>\nYou can always release delaying against anybody if you want to, and then you have a notarized.<br \/>\n15:09<br \/>\nJust a side note, a trivia piece attribute here.<br \/>\n15:12<br \/>\nI\u2019m going to tab over and I\u2019m going to show you might see this sometimes on a this section of the document right down here. Where the notary affixes a seal.<br \/>\n15:21<br \/>\nThis notary ESCOs is simply going to witness your signature. He or she is not supposed to read the whole document and interpreted. That person is not legally competent to do that.<br \/>\n15:30<br \/>\nActually, you are. He\u2019s not.<br \/>\n15:32<br \/>\nSo if someone sits there and started reading it, just realize he\u2019s not required.<br \/>\n15:37<br \/>\nIt doesn\u2019t, you know, sometimes, I like to think of themselves as being important, and all we really want to do is have someone witness your signature with an official seal of accounting.<br \/>\n15:47<br \/>\nSo no Republic, he signs and puts his fixes.<br \/>\n15:50<br \/>\nHis seal and seal may be preceded by this notation here, Bracket, L S bracket. Now, L S simply means locus, SIG, Levi.<br \/>\n16:03<br \/>\nThe location of a signature, OK?<br \/>\n16:06<br \/>\nHardly ever see that anymore.<br \/>\n16:08<br \/>\nAnd by the way, sometimes you\u2019ll see like, oh, you\u2019ll see a giraffe where there\u2019s the county name security here, you\u2019ll see data, something, county of something, right?<br \/>\n16:18<br \/>\nAnd then you\u2019ll see, let\u2019s get rid of this.<br \/>\n16:22<br \/>\nYou don\u2019t need this on the document, but sometimes you\u2019ll see this.<br \/>\n16:28<br \/>\nUm.<br \/>\n16:36<br \/>\nYou\u2019ll see parentheses, like this, parentheses, in the parentheses, and then right here, you\u2019ll see why this document, so difficult, right here, you\u2019ll see this.<br \/>\n16:53<br \/>\nOK, I\u2019ll tell you what that means.<br \/>\n16:58<br \/>\nThat means subscribe. Subscribe, sworn seal, or subscribe and sworn.<br \/>\n17:08<br \/>\nThat\u2019s what that means. To me, I\u2019m just sharing some trivia with you here.<br \/>\n17:13<br \/>\nWe don\u2019t need any of that stuff, the mortgage Instrument Security trustee thing you\u2019re looking at right here. That is legally sufficient to encumber the equity.<br \/>\n17:21<br \/>\nYou record it in the county and that will uncover the equity.<br \/>\n17:25<br \/>\nJust have this part notarized. You don\u2019t need to change anything. You can put some more spaces here. It doesn\u2019t really matter.<br \/>\n17:32<br \/>\nNow, the next thing is, I\u2019m going to show you a note now, I\u2019ve found this note, and this will be included with the video, I\u2019m just gonna go grab it. It was so much easier just to grab it. All right, Here we go.<br \/>\n17:45<br \/>\nOK, so, let me switch to sharing, Barbara.<br \/>\n18:01<br \/>\nOK, now we\u2019re looking at the note, so we pretty much cover the security instrument, the lien. That\u2019s the thing that\u2019s gonna encumber the equity.<br \/>\n18:09<br \/>\nAnd here we\u2019re going to put in the similar information, I promised to pay US. Dollars.<br \/>\n18:13<br \/>\nYou can put again, the $50,000. Actually, it\u2019s asking you for a number here.<br \/>\n18:19<br \/>\nThis is a note. It\u2019s an IOU.<br \/>\n18:22<br \/>\nThis is the standard form.<br \/>\n18:23<br \/>\nNotice how it\u2019s got a 3200 name on it. It\u2019s a form number.<br \/>\n18:27<br \/>\nI probably got this from the, uh, from the Fannie Mae website I don\u2019t remember, but it doesn\u2019t matter, it\u2019s only like three pages, and you can find them anywhere on the internet. You don\u2019t need to pay for this stuff, It\u2019s all over the place, Just look around.<br \/>\n18:39<br \/>\nMean, you can pay $10 for it if you want to at Legal Zoom or something, but you don\u2019t need to.<br \/>\n18:44<br \/>\nHere\u2019s an important thing, obviously, this is stuff you already know. This is the mailing address, not the legal description.<br \/>\n18:50<br \/>\nI don\u2019t think there\u2019s a spot for the legal description on here, and that\u2019s not important, anyways.<br \/>\n18:55<br \/>\nAnd notice how at the bottom, you just need to sign it, all right, and when you sign it, I would do it with blue ink and, uh, Keep it in a safe place with the recorded original of the trust deed or security deed or mortgage, OK?<br \/>\n19:10<br \/>\nCase anybody ever wants to challenge it, It\u2019s not going to happen, but it\u2019s good to have these records.<br \/>\n19:16<br \/>\nSo you just fill this out, same information. The lender is, you already saw that.<br \/>\n19:21<br \/>\nAll right, so here, you want to have a real interest rate, that doesn\u2019t have to be 30%, unless that\u2019s the market, which is definitely not now.<br \/>\n19:28<br \/>\nBut let\u2019s say 5% is a pretty good rate.<br \/>\n19:30<br \/>\nEven 4%, but it doesn\u2019t matter, because it\u2019s just it\u2019s just a lien that your company owns and you\u2019re not actually going to a bank, you\u2019re just recording a piece of paper and that makes the company, the owner of the equity, not the title.<br \/>\n19:45<br \/>\nThat\u2019s all we\u2019re doing is transferring equities but we still want a real interest rate, so how do we get a real interest rate?<br \/>\n19:51<br \/>\nI\u2019m going to switch over here.<br \/>\n19:53<br \/>\nI\u2019m going to show you how to get a real interest rate and amortize it so that we know.<br \/>\n19:58<br \/>\nWe\u2019re gonna say we\u2019re gonna make our payments, I\u2019m gonna do this right now on the fifth day of each month. just because I like the fifth day, right?<br \/>\n20:04<br \/>\nAnd it\u2019s going to begin on january fifth, 2020.<br \/>\n20:12<br \/>\nYeah.<br \/>\n20:15<br \/>\nAnd so forth and so on.<br \/>\n20:17<br \/>\nAnd I should paid off by, I\u2019m going to add 30 years to that.<br \/>\n20:22<br \/>\nShe paid off by February, first.<br \/>\n20:27<br \/>\nWhatever, I\u2019m going to add, 30 years to 20 20, so it\u2019s going to be 2050.<br \/>\n20:33<br \/>\nI stylo, OK, whatever, I\u2019ll pay those mountain for 30 years. And I\u2019ll make monthly payments at, and this is going to be the address of the LLC, so it can be your, it could be the address, whatever you\u2019re using for the LLC that\u2019s used on the security instrument you can use right here.<br \/>\n20:51<br \/>\nDoesn\u2019t matter, It just should have an address here, OK?<br \/>\n20:54<br \/>\nIt doesn\u2019t even give you a real address, but in your case, I mean, it\u2019s gonna, it\u2019s going to be real address, because assault, that\u2019s all you need, you don\u2019t have to do anything fancy here.<br \/>\n21:01<br \/>\nMonthly payment is going to DM out what I already know empowering $50,000 I haven\u2019t decided on my interest rate yet. So let\u2019s do that now.<br \/>\n21:09<br \/>\nI\u2019m going to do screen share real quick. I\u2019m going to switch over.<br \/>\n21:19<br \/>\ntwo here, Really?<br \/>\n21:28<br \/>\nMake sure to do that, right.<br \/>\n21:38<br \/>\nHere we are at a browser window, where we found the property appraiser\u2019s websites at this time, We\u2019re going to search on something different, I use quite as a search engine.<br \/>\n21:48<br \/>\nSo, we\u2019re going to do this. now. You could do this yourself. You could use a calculator.<br \/>\n21:52<br \/>\nI like to use the internet amortization Calculator, like software to do, or funding.<br \/>\n21:59<br \/>\nLike, you know, you can sit at a computer and do this in 15 minutes and create a link for your property, OK, anytime you need to put a lien to protect the equity. I mean, I don\u2019t care how rich you are. It just makes sense.<br \/>\n22:10<br \/>\nBecause here\u2019s why, it\u2019s not out so much just protecting the equity, but preventing the need to defend the claim.<br \/>\n22:17<br \/>\nIf someone wants to sue you, and you have an interest, or someone wants to see your company, and it has an interest, it makes sense to put a lien on the property. That way. That doesn\u2019t matter if you defend the interests. You don\u2019t have to pay money to an attorney to defend it because it\u2019s not subject to lead.<br \/>\n22:31<br \/>\nYou\u2019ve already leaned up the property, right? It\u2019s not there anymore, basically.<br \/>\n22:34<br \/>\nSo, I would do this, go to a website. And this one happens to be called Amortization Desk Desk Help.<br \/>\n22:41<br \/>\nThere\u2019s a billion of these things, right? This is what type of loan is this going to be. In our case, is going to be a home equity loan, right, Because it\u2019ll be second lien or third link position.<br \/>\n22:49<br \/>\nAnd it\u2019s only going to be for $50,000.<br \/>\n22:53<br \/>\nAnd the loan term make it always 30 years. You can make a balloon payment, you can even record as being satisfied. You know, it doesn\u2019t have to be 30 years.<br \/>\n23:00<br \/>\nWhat you want is a real payment, doesn\u2019t, you don\u2019t want it to be too high.<br \/>\n23:06<br \/>\nNot that you\u2019re gonna have to make the payments either.<br \/>\n23:08<br \/>\nWe can, we can talk about that but when you record this, you can create a paper trail showing payments and all you\u2019re doing is taking money from one account and putting it to let\u2019s say the LLC\u2019s Account or a third party payment processor\u2019s account.<br \/>\n23:24<br \/>\nJust so you have a payment history or you can create a payment history on the fly, that\u2019s pretty easy to do with software.<br \/>\n23:30<br \/>\nIt\u2019s almost unnecessary but just so you know, there should be a real payment and if you wanted to have a payment history, OK, and this is a great way to do it.<br \/>\n23:38<br \/>\nYou can have a 30 year amortized instrument and only use seven years of that, OK.<br \/>\n23:43<br \/>\nThis case, 30 years, OK, I like 5.25%.<br \/>\n23:47<br \/>\nI don\u2019t need to change anything.<br \/>\n23:49<br \/>\nNow, be careful about here because we\u2019re using, we\u2019re using a app, a free service, so, there, they put an ad in here. Check today\u2019s mortgage rates, don\u2019t click on that one. You\u2019ll get an app.<br \/>\n24:01<br \/>\nCome down here and do a calculation on all this data calculate.<br \/>\n24:07<br \/>\nThere we go. There\u2019s our payment.<br \/>\n24:11<br \/>\nThis is kind of revealing, isn\u2019t it?<br \/>\n24:13<br \/>\nTake some time and check that out.<br \/>\n24:15<br \/>\nThat\u2019s why consumer debt is not that great.<br \/>\n24:21<br \/>\nSo, let\u2019s go back to the instrument, 276 and 10%, right?<br \/>\n24:26<br \/>\nSo, note.<br \/>\n24:36<br \/>\nOK?<br \/>\n24:39<br \/>\nSo, I didn\u2019t wanna, I wanna go to that. Not the security, you don\u2019t wanna go back to that node.<br \/>\n24:49<br \/>\nSure.<br \/>\n24:54<br \/>\nI heard it, OK, so go back to the note.<br \/>\n24:57<br \/>\nThen 276 and 10%, right, so the interest rate was 5.2, 5. So, the computer did an amortization.<br \/>\n25:06<br \/>\nso the 276 dollars and 10% comes right over here.<br \/>\n25:15<br \/>\nThere we go.<br \/>\n25:16<br \/>\nSo if anybody wants to challenge this and he says, Hey, let\u2019s see if these numbers are real and he runs an amortization on this based on the dates and everything.<br \/>\n25:25<br \/>\nBased on the principle amount and the day, it\u2019s gonna go OK, OK, that makes sense. All right?<br \/>\n25:30<br \/>\nThis fits, OK, It\u2019s a it\u2019s real, no fake numbers here.<br \/>\n25:34<br \/>\nIf I had a payment of $10, here, that\u2019d be a problem, right?<br \/>\n25:37<br \/>\nOr two or $100, that would be a problem. But this is a real number.<br \/>\n25:43<br \/>\nAnd on the note, like I said, all you do is sign it, I would sign it and blue ink, Print it out, sign in blue ink.<br \/>\n25:49<br \/>\nWell, you get the original trustee or security instrument or mortgage back from the county recorder\u2019s office, in the mail.<br \/>\n26:00<br \/>\nPut those two documents together and put them in an envelope and label it With the address, and you know put put the name of this is a Lien dated on such and such a second lien, or a second mortgage equity mortgage whatever.<br \/>\n26:13<br \/>\nRight that that\u2019s that. That\u2019s how you know what you\u2019re doing.<br \/>\n26:18<br \/>\nNow, if you ever had to sell it, we could talk about that, but if you had to sell it, you know, somebody may pay you a discounted rate of the face value.<br \/>\n26:25<br \/>\nSo let\u2019s say a $50,000 note might be worth $35,000. So depending on what you\u2019re gonna do with that money, Maybe it\u2019s worth 20,000.<br \/>\n26:31<br \/>\nI don\u2019t know, depending on what you\u2019re going to do with that money.<br \/>\n26:35<br \/>\nIf you\u2019re ever going to sell them, no.<br \/>\n26:36<br \/>\nChances are you have already something that\u2019s pretty, a pretty good bet where if you got the discount rate today, you could make your money back quickly and make a lot of money after that.<br \/>\n26:48<br \/>\nThat would be.<br \/>\n26:49<br \/>\nthat would be the only reason that you\u2019d want to do something like that, OK. So, let\u2019s do the screen share again. Come back to you.<br \/>\n26:58<br \/>\nStop.<br \/>\n27:01<br \/>\nOoh.<br \/>\n27:06<br \/>\nTo come back here.<br \/>\n27:09<br \/>\nLet\u2019s close this out.<br \/>\n27:11<br \/>\nSure, we get the right thing going on here actually wouldn\u2019t be bad.<br \/>\n27:15<br \/>\nBut that\u2019s, that\u2019s the basic information. So, we have the note, I\u2019m going to close that out.<br \/>\n27:20<br \/>\nWe don\u2019t need anything there.<br \/>\n27:22<br \/>\nAnd then, you\u2019ve got the Lean instrument. So I\u2019m gonna go back to \u2026 real quick.<br \/>\n27:29<br \/>\nOh, yeah.<br \/>\n27:34<br \/>\nSo here\u2019s the instrument, so you see.<br \/>\n27:40<br \/>\nThousand dollars, that\u2019s our day. Those are dates.<br \/>\n27:44<br \/>\nThere\u2019s a spot in here to oppose the penalty for being late.<br \/>\n27:50<br \/>\nI don\u2019t like the percent penalty I like just like a flat dollar amount.<br \/>\n27:54<br \/>\nHum.<br \/>\n27:56<br \/>\nWhere do I put that?<br \/>\n28:04<br \/>\nOK, the node has anyways, The node will have like a 35 Percent, I\u2019m sorry, like a some some percentage of a fee if you\u2019re late Like I said, this should be real.<br \/>\n28:14<br \/>\nSo I don\u2019t like to do that.<br \/>\n28:16<br \/>\nI like to have a dollar amount like $35, so I would change that whole line Don\u2019t do that right now.<br \/>\n28:25<br \/>\nShe\u2019s fine.<br \/>\n28:32<br \/>\nI\u2019m going to grab that note again.<br \/>\n28:34<br \/>\nOK, so I\u2019m going to show you on the note itself.<br \/>\n28:49<br \/>\nI\u2019m done, OK, so.<br \/>\n28:58<br \/>\nHere you go, The amount of the charge for being late, if you\u2019re, let\u2019s say more than five days late, it\u2019s typically five calendar days late, and making the payments, remember, this is, yeah, you should be paying yourself, obviously.<br \/>\n29:13<br \/>\nIt\u2019s just paper, it\u2019s a paper record, that\u2019s all, they\u2019re not actually going to need, that nobody\u2019s ever gonna penalize you, but there should be real numbers here, OK.<br \/>\n29:21<br \/>\nIf you sold the note, it\u2019d be a different story, but I don\u2019t like to assess a percentage.<br \/>\n29:25<br \/>\nI think it\u2019s unfair, but let\u2019s say the amount of the charge will be $35.<br \/>\n29:32<br \/>\nSay, $35.<br \/>\n29:36<br \/>\nThat\u2019s it.<br \/>\n29:41<br \/>\nThat\u2019s just my preference, you can do what you want, keep it reasonable.<br \/>\n29:47<br \/>\nThe rest of it\u2019s all good, so that makes your note negotiable. It\u2019s something you can actually sell.<br \/>\n29:54<br \/>\nFrom day one.<br \/>\n29:57<br \/>\nSo, that\u2019s the note.<br \/>\n29:59<br \/>\nBasically, the same information is here, the only different information.<br \/>\n30:01<br \/>\nIt\u2019s going to be your amount of payments right now, but we put 276 over here, and we calculated that from the website.<br \/>\n30:10<br \/>\nSo.<br \/>\n30:13<br \/>\nThe monthly payments are gonna be made to the address, the same addresses on the mortgage lane, So let me go back to the mortgage line.<br \/>\n30:26<br \/>\nAll right.<br \/>\n30:30<br \/>\nArrogance.<br \/>\n30:31<br \/>\nAnd that\u2019s it.<br \/>\n30:32<br \/>\nSo, now, you have a document that you can print out.<br \/>\n30:35<br \/>\nHave it notarized and signed by the property owners, Titleholders.<br \/>\n30:41<br \/>\nThen you take it to the County Recorder\u2019s office and record it. It\u2019s just a piece of paper and it will protect that property.<br \/>\n30:46<br \/>\nYou can own that Lean or your company will own that Lean, and that\u2019s a conveyance of the properties, equity.<br \/>\n30:53<br \/>\nIf you do that before a judgement creditor, well, then, you\u2019re ahead of them.<br \/>\n31:00<br \/>\nYou can also do this.<br \/>\n31:01<br \/>\nSome people do this just to strip equity, for all kinds of reasons, but it would avoid the need for litigation costs.<br \/>\n31:10<br \/>\nYou know, you can get financing this way.<br \/>\n31:12<br \/>\nIt\u2019s not the cheapest way of getting financing, but the only reason to get financing this way is because you have a really great idea, you\u2019re going to make a bunch of money and you get a good bet.<br \/>\n31:20<br \/>\nSo, yeah, you\u2019re gonna pay a higher interest rate, but that\u2019s OK.<br \/>\n31:28<br \/>\nAnd that\u2019s it. That\u2019s the nuts and bolts of how to put a lien on some real estate that you own.<br \/>\n31:35<br \/>\nAnd that way, you don\u2019t have to transfer the title.<br \/>\n31:37<br \/>\nSometimes when you transfer the title using a quitclaim deed, you lose homestead exemption if that\u2019s the place where you live.<br \/>\n31:44<br \/>\nIf it\u2019s a rental property, it won\u2019t matter that much.<br \/>\n31:46<br \/>\nJust be aware of any taxes that are assessed because you conveyed the title.<br \/>\n31:54<br \/>\nAnd if you have a mortgage and you can pay the title, be aware that sometimes lenders will invoke a due on sale clause, even though you didn\u2019t really sell it.<br \/>\n32:03<br \/>\nBut what you have to do is notify the lender that the conveyance was done for estate planning purposes.<br \/>\n32:11<br \/>\nAnd I\u2019m going to include a sample letter that I like to send to lenders in a situation, where we\u2019re going to do a quick lengthy. In fact, that\u2019s going to be in the quitclaim deed video. I don\u2019t wanna get too far into too. Many details, I just want to separate those out.<br \/>\n32:25<br \/>\nBut when when you put a lien on the property, you don\u2019t have to convey the actual title, right, that involves, sometimes contacting the mortgage lien holder to make sure that there\u2019s not going to be a problem.<br \/>\n32:37<br \/>\nLike, they don\u2019t want to invoke the due on sale clause.<br \/>\n32:41<br \/>\nUm, if you just put a lien on the property, you just do that all over the place.<br \/>\n32:44<br \/>\nYou don\u2019t even have to care what the hotel exemptions are, anything like that, because even though you are conveying the equity, and yes, it\u2019s a conveyance, the lenders aren\u2019t going to care, and the tax people aren\u2019t gonna care, you\u2019re still gonna have the same tax situation, as I\u2019m telling you, That\u2019s a pretty good tool to use, but anyways, that\u2019s the sum of it. We\u2019re gonna get into some more detail on different applications of the same idea, OK?<br \/>\n33:07<br \/>\nThat\u2019s good for now, hope that helps.<br \/>\n33:35<br \/>\nHi, everybody, this is John Jay. And I wanted to cover, let\u2019s call this the second part of Equity Stripping.<br \/>\n33:43<br \/>\nPay no attention to this right now. Let\u2019s go down to a couple of notes I made.<br \/>\n33:48<br \/>\nPreviously, I was discussing how to take equity out of your name when it comes to residential real estate.<br \/>\n33:56<br \/>\nWe\u2019re talking about a house: Where are you live in? Or?<br \/>\n34:00<br \/>\nIt could be owning residential real estate that you\u2019re leasing out to someone.<br \/>\n34:06<br \/>\nYou can convey the equity by recording a link.<br \/>\n34:08<br \/>\nWe already discussed this and the previous video, but this one, we\u2019re going to talk about how to actually convey the entire ownership interest, which is the title, the recorded title.<br \/>\n34:19<br \/>\nSo, there are a couple of considerations here.<br \/>\n34:22<br \/>\nThe first one is, before I do this for somebody, I want to make sure that if it, it\u2019s OK that the owner understands that there may be a loss of property tax exemptions. In some states, it\u2019ll be known as homestead property tax exemptions.<br \/>\n34:46<br \/>\nAnd I know in California, in Florida, this may be the case.<br \/>\n34:50<br \/>\nSo if you convey title to real estate out of your name, unless you do other things, you may lose your homestead exemption.<br \/>\n34:59<br \/>\nNow, many states, I believe you can retain your homestead exemption if it\u2019s conveyed into a truck. So there are some limitations on it, but you can, for the most part, retain your exemption.<br \/>\n35:08<br \/>\nThen some states, you just can\u2019t retain your exemption if you convey it.<br \/>\n35:12<br \/>\nIf you convey your ownership interest to a trust or a limited liability company or some other person, it can be another human being.<br \/>\n35:22<br \/>\nYou may lose your homestead exemption because the new owner is not a resident or doesn\u2019t or isn\u2019t not residing at the property, OK?<br \/>\n35:33<br \/>\nSo, there\u2019s some, there are other reasons, but that\u2019s the first consideration. And usually it\u2019s around 25%.<br \/>\n35:38<br \/>\nIt\u2019s a 25% property tax break, so it\u2019s something to consider.<br \/>\n35:41<br \/>\nSometimes, it makes sense to actually pay the additional tax. It depends if you\u2019re gonna sell the property in a in the near future, like within a couple of years, maybe it makes sense to pay the tax because you\u2019re avoiding a bigger liability, you know, it could be an IRS later something. I wouldn\u2019t always convey the property ownership.<br \/>\n36:02<br \/>\nI am only talking about judgement liens from creditors if I, if I have no creditor suing me or private parties suing me or a company suing me and I have a personal interest in my property because I my name is on the title.<br \/>\n36:17<br \/>\nMaybe I\u2019m not going to convey my interest to a company, or because I can, I can easily avoid that liability if I just put a lien on the property.<br \/>\n36:28<br \/>\nAnd of course, you know I discussed the limitations of putting a lien on the property and stripping the equity, but if I\u2019m going to really want wanting to take the property out of my name, which is really, I\u2019m taking it out of my estate, I think it\u2019s the real objective.<br \/>\n36:43<br \/>\nIf you\u2019re going to convey that property or title out of your name, it\u2019s because you want to take it out of your state or you have, yeah.<br \/>\n36:51<br \/>\nA pretty substantial liability to the United States or IRS or state tax issues.<br \/>\n36:58<br \/>\nThen you want to take it out of your name, because the property lien.<br \/>\n37:03<br \/>\nInequity laine, is not going to protect you against tax claim.<br \/>\n37:07<br \/>\nThe, the IRS has a superior lien position to a mortgage, and the state tax collection has a superior lead to the IRS. So it\u2019s kind of in that order.<br \/>\n37:19<br \/>\nYour first lien holder is going to be your state tax. Your second one\u2019s going to be IRS. If there\u2019s going to be the mortgage fourth, is going to be the second lien holder home equity. He rox something like that.<br \/>\n37:28<br \/>\nAnd if there\u2019s a third lane, maybe it\u2019s your lane, you\u2019re going to use it to uncover your equity.<br \/>\n37:32<br \/>\nAnd sometimes you can put forth, you know, we discuss this, so just keep that in mind.<br \/>\n37:37<br \/>\nI\u2019m going to show you, OK.<br \/>\n37:39<br \/>\nHere\u2019s a brief glance at the quitclaim deed, OK? It\u2019s a generic quitclaim deed. I did this one from North Carolina some time ago.<br \/>\n37:47<br \/>\nBut it\u2019s, you know, I just made up a name here, you can do, this is good for any state.<br \/>\n37:52<br \/>\nNow I\u2019m gonna go over this briefly, but let me switch over. There\u2019s a couple of things I want to show you.<br \/>\n37:59<br \/>\nAlong with this lien, I\u2019m sorry, this quitclaim deed.<br \/>\n38:03<br \/>\nif I want exemption from the if I\u2019m going to still have the homestead exemption, I have to usually add an addendum to this. And usually, the state or county has a form you can use. Now. There\u2019s a couple of tax considerations.<br \/>\n38:17<br \/>\none is the loss of homestead property tax exemption, which is about 25%.<br \/>\n38:23<br \/>\nAnd then there\u2019s another tax, it\u2019s not always in every state, but in California and Florida, I know there\u2019s something called a document Terry stamp tax.<br \/>\n38:33<br \/>\nAnd all that means is there\u2019s a single tax on the transaction itself where I\u2019m conveying from one titleholder to a new title holder.<br \/>\n38:40<br \/>\nAnd there\u2019s a percent tax assessed against the value of the property at the time of conveyance.<br \/>\n38:48<br \/>\nYou can get exempted from that if you\u2019re conveying the property for estate planning purposes, just like the homestead exemption.<br \/>\n38:55<br \/>\nYou can know you can avoid waiving the homestead exemption, if it\u2019s conveyed for estate planning purposes, and, again, there may be a form that you have to include with your quitclaim deed or gift to your County recorder\u2019s office. And let me go over that real quick.<br \/>\n39:08<br \/>\nI\u2019m just going to switch screens here, just to make sure I can give you some idea what this looks like.<br \/>\n39:19<br \/>\nAll right.<br \/>\n39:24<br \/>\nSo, here it is. This is the change of ownership statement. This is one that is available for California.<br \/>\n39:29<br \/>\nYou can do a Google search on that form name, Change of Ownership.<br \/>\n39:33<br \/>\nUsually, it would be cause something like property, conveyance, property tax, exemption form, or maybe it\u2019s a document terrie, stamp tax exemption form. Look at those phrases on the Internet, and you\u2019ll find it, you can also contact your County recorder\u2019s office, the Property appraisers office.<br \/>\n39:53<br \/>\nI believe every jurisdiction has this ability to retain for you to retain your homestead exemption unless clearly it\u2019s not allowed in the statute, OK.<br \/>\n40:03<br \/>\nSo here\u2019s one we did for Marin County, California.<br \/>\n40:07<br \/>\nYou can see the assessor, affixes, some information in here. We don\u2019t really care.<br \/>\n40:12<br \/>\nUm, usually this is for the assessor\u2019s office, but, you know, basically you would identify the property.<br \/>\n40:17<br \/>\nAnd if you\u2019ll you\u2019ll see here, looked at all these checkbox forms, you see, I selected no for everything because all these, OK, I should say none of these apply.<br \/>\n40:26<br \/>\nFor this particular type of transaction that I\u2019m describing here, this is, this one I did is identical to what we\u2019re talking about.<br \/>\n40:32<br \/>\nSo, none of these conditions apply all the way down to letter M OK, and as you\u2019ll notice, it says here, this transfer between parties is proportional and between the transfer and transfer rate, the exact same interests are that are remaining. OK.<br \/>\n40:48<br \/>\nSo the interests of the property are identical before and after the conveyance so that I can select this option here and that will exempt me from the documentary stamp tax.<br \/>\n41:00<br \/>\nThis is for California. So I like California, because you know, it\u2019s pretty clearly, I like it in terms of using this to demonstrate it, so you\u2019ll have to find out what it is for your state. I don\u2019t have one handy for Florida, but I\u2019m sure that\u2019s pretty easy. I\u2019ve used a long time ago.<br \/>\n41:12<br \/>\nI don\u2019t know, the details. What basically you\u2019re going to end up with a form like this.<br \/>\n41:16<br \/>\nNow, notice that, um, I give, I\u2019m given a chance here in part two to explain what this is all I\u2019ve done is when I selected this here. I\u2019m just restating it here again in my own language, that conveyances solely for estate planning purposes, and beneficial interests remain the same.<br \/>\n41:36<br \/>\nThen part three, and this applies in this case, because you know, there\u2019s no money changing hands, it\u2019s just for estate planning purposes, and then the property information, and then you do the certification down here.<br \/>\n41:49<br \/>\nWe\u2019re syndicated. It\u2019s very simple.<br \/>\n41:51<br \/>\nThere\u2019s some instructions if you need help, but basically, this is as simple as it is. Now, there is a form. This, there\u2019s a form.<br \/>\n42:00<br \/>\nI\u2019m sorry, there\u2019s a, an exemption code and I happen to locate this. I\u2019m going to have to switch screens here.<br \/>\n42:05<br \/>\nI\u2019m going to show you what this is here. Let\u2019s see.<br \/>\n42:08<br \/>\nShare, Look at.<br \/>\n42:14<br \/>\nAgain, this is for California.<br \/>\n42:17<br \/>\nLet\u2019s see.<br \/>\n42:22<br \/>\nThere it is.<br \/>\n42:24<br \/>\nNow, this so happens to be the quitclaim deed for California. You can use the one I\u2019m going to show you. But this is one you can use for California.<br \/>\n42:33<br \/>\nYou\u2019ll notice, no, it\u2019s gotta have the same information over here. I\u2019ll go over that in just a minute.<br \/>\n42:39<br \/>\nYou\u2019re welcome to use a quick claim deeds that your state commonly uses, but you don\u2019t really have to. I mean, basically, you can use a piece of paper and you can handwrite it, OK?<br \/>\n42:46<br \/>\nIt just has to have the certain information like, in this case, The California form has the parcel number here.<br \/>\n42:54<br \/>\nAll right.<br \/>\n42:55<br \/>\nNow, what I happened to be able to do in this case is find the exemption code and I had to go to the county the county recorder\u2019s a website. I forget how I found this, but it\u2019s, you\u2019ll find a tax table and exemption codes.<br \/>\n43:11<br \/>\nNow, almost every jurisdiction, it\u2019s very easily located. It\u2019s published, but in this case, that particular exemption I was asking for.<br \/>\n43:20<br \/>\nWas the one for, again, where the same parties, the parties are different. OK, the owner is conveying the property over to a new owner, but he retains the beneficial interest exactly as it as he did when he owned it in his name.<br \/>\n43:35<br \/>\nNow he owns it through a company, but the beneficial interests are the same. So therefore the tax code that applies, the exemption code is this 1125. Alright.<br \/>\n43:46<br \/>\nAll right.<br \/>\n43:47<br \/>\nSo then we have, you know, the name of the party who\u2019s quitclaim indeed and find the quitclaim deed, right?<br \/>\n43:53<br \/>\nThe Disclaiming Party, that\u2019s the current owner, and the new owner is going to be your LLC, sometimes I use the, the address of the property as the name of the LLC, usually, if I\u2019m not using it for any other purpose.<br \/>\n44:06<br \/>\nLike, in this case, it might be 123 M Street LLC. We\u2019ll get to that in just a second, and this are there.<br \/>\n44:11<br \/>\nThe address of B here, I mean, you can put any address you want, but the name of the city in the county.<br \/>\n44:16<br \/>\nThat\u2019s just how it works, and of course, you sign it, gotta haven\u2019t notarized.<br \/>\n44:21<br \/>\nAll right, here\u2019s your acknowledgement form.<br \/>\n44:23<br \/>\nThis is called the \u2026, all right.<br \/>\n44:26<br \/>\nOnce all this is completed, you\u2019ll be able to file it now. Let\u2019s switch over to my generic quitclaim deed.<br \/>\n44:34<br \/>\nAnd this is the one I want to use to demonstrate what I\u2019m talking about today. Call this the Quitclaim Deed form. And these, of course, these example letters will be attached to the video. So don\u2019t worry about that.<br \/>\n44:46<br \/>\nAll right.<br \/>\n44:47<br \/>\nSo, notice how Quitclaim deed form, it\u2019s one page.<br \/>\n44:53<br \/>\nUm, on the address, whoever\u2019s preparing this is the person who wants to get a copy of the original \u2026 copy the original.<br \/>\n45:00<br \/>\nBut the actual original that has an adhesive label affixed to it or a stamp on embossing Mark on it will be sent back to this address.<br \/>\n45:13<br \/>\nUsually title companies and attorneys use this spot, you can do that yourself.<br \/>\n45:17<br \/>\nAnd this is where you tell the clerk where to send it.<br \/>\n45:20<br \/>\nUsually these are the same people.<br \/>\n45:23<br \/>\nAll right.<br \/>\n45:25<br \/>\nSo over here, this area on the top right corner, the clerk is going to affix the stamp or receipt showing the date the fee was paid. Now, there\u2019s a distinction between the fee for recording this which is usually around $10.<br \/>\n45:40<br \/>\nAnd the tax, if there is going to be one, like the documentary stamp tax and or property tax, those are all three different distinction.<br \/>\n45:47<br \/>\nSo what we\u2019re talking about is there\u2019ll be a receipt, a fix to this document right here in the top right corner showing it was recorded at a particular moment.<br \/>\n45:55<br \/>\nAnd any fees that were included are collected. So down here, you\u2019ll notice it\u2019s pretty self explanatory. You want to put the actual state.<br \/>\n46:04<br \/>\nuse all caps here, North Carolina, whatever the state is, and make, make sure this is the same.<br \/>\n46:10<br \/>\nYou can do a global search and replace, right. Arkansas. We can, we can do anything they want, right?<br \/>\n46:18<br \/>\nLike that same, I switched it to Georgia.<br \/>\n46:21<br \/>\nSame thing for county. Make sure you remove these brackets. Do not leave these brackets here. See the brackets on the outside?<br \/>\n46:28<br \/>\nWhen you do it, let\u2019s say if I do a search and replace and I switch that out, I put the actual county name.<br \/>\n46:34<br \/>\nHere we go, Fulton County, It should look like that. Now, notice, it\u2019ll also correct down here.<br \/>\n46:40<br \/>\nSo, you fill in the blank.<br \/>\n46:42<br \/>\nNow, notice, you don\u2019t want to have this to be for a specific, a particular amount of money, like in consideration of $10, because some jurisdictions will impose the tax if you have any amount of money here. So sometimes it should be zero dollars. You have to check with your particular forms that you\u2019re using.<br \/>\n46:57<br \/>\nSo just to have to amend this a little bit, but basically you want to show that the conveyance is being done by this individual who\u2019s the current property owner. And maybe that\u2019s a woman, maybe that\u2019s a man, maybe it\u2019s a married couple, you just have to describe it here, OK, so change it accordingly.<br \/>\n47:12<br \/>\nThen they reside at particular address. Usually it\u2019s going to be the address where the property is situated. Possibly it\u2019s should be all the same. Doesn\u2019t have to be but a candy.<br \/>\n47:21<br \/>\nThen, it\u2019s what kind of limited liability company you can, like, for example, if I\u2019m doing this in Georgia, it can be a Georgia LLC, but it can be a New Mexico LLC, it can be a California LLC, could be anything, OK?<br \/>\n47:34<br \/>\nBy the way, I don\u2019t recommend California LLCs, I just happen mentioned that, but continue on filling this out, right, it\u2019s going to be organized in the state of whatever, let\u2019s say it\u2019s Georgia, New Mexico didn\u2019t matter.<br \/>\n47:45<br \/>\nThe grantee is going to be the person, the individual receiving ownership. So, if it\u2019s your LLC, then that becomes the grantee.<br \/>\n47:52<br \/>\nAll right, and you\u2019re conveying all rights and title.<br \/>\n47:55<br \/>\nAnd of course, correct this too.<br \/>\n47:58<br \/>\nYou can download this and edit it. This is an open Office I\u2019m, sorry, Lieber Office format.<br \/>\n48:03<br \/>\nIt\u2019s an ODT format and it should edit in Microsoft Word or most text editors, or you retain the formatting.<br \/>\n48:11<br \/>\nSo it\u2019s pretty easy to edit this And of course the names of the current owners, Mary Smith, John Smith.<br \/>\n48:19<br \/>\nOK, you don\u2019t put Marion John Smith on one line, You get a separate them out.<br \/>\n48:22<br \/>\nThey each have to sign their the grand tours if it\u2019s one person, you can just delete this right however you want.<br \/>\n48:28<br \/>\nBut the address, again, you don\u2019t have to put the address again. It\u2019s already up here.<br \/>\n48:32<br \/>\nIt\u2019s probably here to It\u2019s all probably the same but you can remove it if you want.<br \/>\n48:36<br \/>\nThen this is for the notary, and again, you\u2019re going to identify who\u2019s having his or her signature or their signature witness here. Right?<br \/>\n48:43<br \/>\nSo if you\u2019re just one person, just one person, it\u2019s two people, Marin and Jane Smith.<br \/>\n48:50<br \/>\nI\u2019m sorry, I met John and Mary Smith, then, of course it\u2019d be John and Mary Smith or John Smith and Mary Smith over here.<br \/>\n48:58<br \/>\nAnd then, the Notary, we\u2019ll go ahead and fix this and fix the seal and sign it.<br \/>\n49:04<br \/>\nYou can remove the brackets and put the actual year when you\u2019re going to go use this.<br \/>\n49:08<br \/>\nYou can edit this form so it\u2019s ready to go when should you, once you\u2019ve edited the form, just print it out and take it to a notary. Have it notarized, which is basically witnessing your signature, and then you can record it, and the moment you record it, you did it over the property. Now, don\u2019t be concerned about existing liens on the property.<br \/>\n49:25<br \/>\nLike if there\u2019s a Judgement Lien, even a notice of federal tax lien, the notice of lien is Natalie, and by the way, it just gives notice that there is a link somewhere, and typically it will be considered an IRS records, which is a different subject. I don\u2019t want to cover that right now. So I know a lot of people like to challenge the notice of lien as not being a leader, you\u2019re correct. It\u2019s just that it doesn\u2019t invalidate the encumbrance on the property. So, what are my point here is what I\u2019m saying is if there\u2019s a lien issue already, like a recorded Lean judgement lien, and you do this quick claim deeds.<br \/>\n49:55<br \/>\nIt\u2019s still valid.<br \/>\n49:56<br \/>\nBut the previous lienholder that had recorded the lien against your interest in the property, at before you conveyed your interests, that lien will still attached.<br \/>\n50:05<br \/>\nSo there\u2019s no issue of a fraudulent conveyance because lean\u2019s continued to attach once the lena\u2019s recorded against the interested party.<br \/>\n50:16<br \/>\nHowever, many times, he moves it over. I don\u2019t care if he\u2019s cells that are just conveys at first State planning that previously will still attach.<br \/>\n50:22<br \/>\nSo be aware of that. So there\u2019s no issue of fraudulent conveyance.<br \/>\n50:26<br \/>\nBut really, whoever conveys this first wins if someone else comes along. it puts a link in a week later.<br \/>\n50:33<br \/>\nToo bad. He\u2019s out of luck.<br \/>\n50:36<br \/>\nMean, he could go to the court and ask for, you know, he can accuse you of fraud at that point but it\u2019s not going to fly. I\u2019ve never seen anybody do that. I\u2019ve never seen anyone succeed. I\u2019ve never even seen anyone try that before.<br \/>\n50:48<br \/>\nMy most recent case, someone some attorney try to intimidate my client into paying a creditor to a place to lead a week after she conveyed the title.<br \/>\n50:56<br \/>\nHe was a week late And I just said no go back to him and tell him to do his job or you\u2019ll find another title company, which she did, and he did his job and didn\u2019t like it, but he had to do it.<br \/>\n51:06<br \/>\nSo it\u2019s very powerful.<br \/>\n51:07<br \/>\nIf you do these timelines it works just fine.<br \/>\n51:10<br \/>\nUm, Keep in mind on, um, OK, so there\u2019s, there\u2019s another issue. So we cover the tax issue, I think pretty well.<br \/>\n51:19<br \/>\nSo just you may want to listen to this video again, because I know it\u2019s, It\u2019s maybe somewhat confusing if you\u2019ve never heard this before.<br \/>\n51:27<br \/>\nBut the central issue is when you convey real estate, where there\u2019s a tax break, because the borrower or the human being is the owner, you still may have a tax break.<br \/>\n51:38<br \/>\nIf you can show that the conveyance still has the same beneficial parties, all right, the beneficial interest remained the same.<br \/>\n51:48<br \/>\nNow, there\u2019s the second issue, Which these are the two major issues, retaining your tax benefits, then there\u2019s a due on sale clause now, when you can be property, where there\u2019s a mortgage.<br \/>\n51:59<br \/>\nThe mortgage lender may decide that it has to foreclose, or it has the right to foreclose or colon the note as it as they say, because you conveyed the interests and changed the risk in the lean.<br \/>\n52:11<br \/>\nThat\u2019s why the lender would call in the note, because you change the interest.<br \/>\n52:15<br \/>\nYou change the risk, and there\u2019s usually a provision, in most security agreements, most trust deeds, and mortgages that allow a lender to do that. However, you can prevent that from happening by just getting the lender to acknowledge the fact, that when you convey this property, you\u2019re telling the lender, before you do it, that your interests will remain the same.<br \/>\n52:31<br \/>\nSo, while you have ownership interest today, when you convey the title, you will retain beneficial interests in the new owner, and those interests haven\u2019t changed from the ownership interests.<br \/>\n52:43<br \/>\nIn that case, the lender cannot invoke the due on sale clause and should not and more than likely will not. So, you just want to open a line of communication.<br \/>\n52:51<br \/>\nMake sure you communicate with the right location for your lender and maybe you have to go to the servicer. Let me go over there real quick.<br \/>\n52:58<br \/>\nI\u2019m going to show you with this, what this letter would look like, OK? So, you definitely want to communicate in writing about this conveyance so that you can avoid that due on sale clause.<br \/>\n53:09<br \/>\nAll right.<br \/>\n53:11<br \/>\nSo, here\u2019s the letter.<br \/>\n53:13<br \/>\nAll right. This is just my example letter. There are many versions of this.<br \/>\n53:17<br \/>\nBasically, you\u2019re going to put your information up here and you can address it to the mortgage company at its address. Maybe it\u2019s going to be the servicer or maybe both.<br \/>\n53:25<br \/>\nSo, you have to check and see where you send written communications to your lender to your bank.<br \/>\n53:30<br \/>\nBe very careful about this. So that\u2019s the first part of the project is, make sure you know how to communicate with your bank in writing.<br \/>\n53:36<br \/>\nBecause if you send this letter to the wrong place and it never gets a response and you go ahead and convey the property that the bank may just decide, well, it\u2019s too bad, You didn\u2019t send its proper notice, and we\u2019re going to call them the note anyway, So just be careful about that. And a lot of times don\u2019t don\u2019t stress over this, because a lot of times, the bank will say, Well, we\u2019re going to call on the note unless you put the property back in your name, Right?<br \/>\n53:57<br \/>\nSo, just, you can recover. This is not the end of the world if you make a mistake, so don\u2019t worry about that.<br \/>\n54:02<br \/>\nAnyways, here\u2019s a sample letter. You want to be sure to identify your mortgage by the account number, explained in the in the regards regarding statement.<br \/>\n54:10<br \/>\nThat it\u2019s a conveyance for estate planning purposes, OK, this is a very key phrase, and explain your the mortgage, or for the mortgage data, is the date that appears on the face of your mortgage and the account number. If you don\u2019t have that data, I mean, you should have that date, but you could use the recording date. Either one\u2019s good.<br \/>\n54:27<br \/>\nYou can use the account number. I\u2019m sure you have one there. I\u2019m sure you\u2019ll find it.<br \/>\n54:30<br \/>\nThen I would include the first few pages of the mortgage, or the trustee, just for reference.<br \/>\n54:36<br \/>\nJust say, no. No, you didn\u2019t miss anything.<br \/>\n54:39<br \/>\nThey know, you know what you\u2019re talking about. We get the, we\u2019re very clear with our communications, OK?<br \/>\n54:43<br \/>\nthere\u2019s no mistake, Someone doesn\u2019t miss key a number or something, and tell him what you want to do. I\u2019m just conveying this for state planning purposes.<br \/>\n54:51<br \/>\nUm, tell them, what kind of company is going to be the owner? I\u2019m assuming you\u2019re gonna use an LLC. That\u2019s my recommendation anyways.<br \/>\n54:57<br \/>\nThe reason why I like to use LLCs is because no one\u2019s going to challenge the articles because the articles are public record and they\u2019re very standard.<br \/>\n55:04<br \/>\nNo one\u2019s gonna pick them apart and say it\u2019s invalid and then say the conveyance is invalid and then therefore I try to catch your liability. Even though you\u2019ve done everything right, if I use a trust, there is a chance that someone can pick it apart.<br \/>\n55:15<br \/>\nSo what I\u2019d like to do is, if I\u2019m using a limited liability company, I would prefer using that trust to E, the owner of the LLC, the single member owner, you could do it that way.<br \/>\n55:26<br \/>\nThen the LLC just is out there for the world and has all the recording and all that stuff.<br \/>\n55:30<br \/>\nAnd LLCs are really solid in that the States will uphold the Charter, even if it\u2019s been revoked, dissolved, or, or, otherwise, you know, revoked by the State. For some reason. Let\u2019s, But maybe you didn\u2019t file your Annual Report or something like that. It\u2019s still valid.<br \/>\n55:49<br \/>\nAnd this Deed is still valid, and your ownership rights are still valid, even if your Charter for the LLC is revoked or dissolved.<br \/>\n55:56<br \/>\nJust because the courts view the fact that you could just pay the bank fees on the State, filing fees for the LLC, and it\u2019ll be considered as if you were never late.<br \/>\n56:07<br \/>\nSo that\u2019s why it\u2019s always viewed as valid.<br \/>\n56:09<br \/>\nWhereas if you\u2019re using a trust, I\u2019ve seen the IRS come in and put a lien on some property that someone conveyed into a trust.<br \/>\n56:17<br \/>\nHe did everything correctly.<br \/>\n56:18<br \/>\nIt\u2019s just at the IRS.<br \/>\n56:21<br \/>\nFiled a notice of lien with the trust as the alter ego of the taxpayer or the person who previously own the property, just ignoring the trust.<br \/>\n56:30<br \/>\nDisclaiming the trust to be a fictitious name.<br \/>\n56:33<br \/>\nThen that puts the burden of proof proof back on yourself, and that it\u2019s very expensive to get that fixed if you can ever get it fixed.<br \/>\n56:40<br \/>\nI mean, you can\u2019t get it fixed.<br \/>\n56:41<br \/>\nI\u2019ve had to do that sometimes, but I would not recommend being in that situation, So, just keep that in mind. I really think an LLC is your best bet.<br \/>\n56:48<br \/>\nIf you really like a trust for some reason, make the trust the single member owner of your LLC.<br \/>\n56:54<br \/>\nAlright. Enough of that.<br \/>\n56:56<br \/>\nHere we go, but it\u2019s telling some the banks and legal terms here. Again, you can just copy this for the most part.<br \/>\n57:02<br \/>\nI know we\u2019re not conveying it to a trust is to an LLC, but the LLC is a trust.<br \/>\n57:08<br \/>\nI know this is a foreign concept for a lot of people, but just, you can check this out, but an LLC can be used as a trust and most of the time, it is used as a trust. Remember, I trust as a relationship. It\u2019s not a structure, even though we talk about it like it is.<br \/>\n57:22<br \/>\nAnd sometimes, it\u2019s a legal person, but really, a trust is a relationship.<br \/>\n57:25<br \/>\nSo, this is a trust relationship you\u2019re creating, and you still have the exemption benefits, and again, I put down here, like I was saying before, there is a legal reference. and you can look this up, this is for the bank.<br \/>\n57:39<br \/>\nIf you have an attorney, you know, I\u2019m sure he\u2019ll probably, or she\u2019ll probably have some other memorandum to add in there, but basically this basically says to the bank.<br \/>\n57:48<br \/>\nAnd there\u2019s no reason why you shouldn\u2019t allow the homeowner to do this.<br \/>\n57:52<br \/>\nHe\u2019s protecting his interests, your interests are still protected, and he\u2019s being diligent about notifying you so that should cover any issues.<br \/>\n58:00<br \/>\nSo let\u2019s go back here.<br \/>\n58:03<br \/>\nNow look at the very important part of the Steve. Sheetz, probably it makes everything.<br \/>\n58:09<br \/>\nNot everything else is not as important.<br \/>\n58:11<br \/>\nThis is the most important part of the deal, OK, so we have all these details here, all right, But look at the very middle here.<br \/>\n58:18<br \/>\nWe need that legal description. Of course, we\u2019re going to identify the address of the property, which is what we know as the mailing address, OK? Or, if you\u2019re gonna map it out or drive there. But there is a legal description to the property. So you should know what that legal description is.<br \/>\n58:33<br \/>\nAnd I know that I\u2019ve asked people over the years, they kinda just freeze. They don\u2019t know what to answer.<br \/>\n58:38<br \/>\nSo, I tell them, go back and look at your property tax bill, or go to the website for the county property, appraiser\u2019s office.<br \/>\n58:48<br \/>\nAnd, you can search on your property by address, name, or partial ID, and usually online, you\u2019ll have, know, all the information about the property tax and evaluation, and all that, But somewhere on that profile is going to be the legal description of the property.<br \/>\n59:05<br \/>\nSo, let me give an example, I\u2019m going to switch over here, this other window.<br \/>\n59:13<br \/>\nAnd I\u2019ll show you how an example when I just pulled off the Internet.<br \/>\n59:21<br \/>\nAll right.<br \/>\n59:24<br \/>\nThere we go.<br \/>\n59:26<br \/>\nSo, here is Cod County, Georgia. I just told that at random.<br \/>\n59:31<br \/>\nAnd I pulled someone\u2019s address. You see here, somebody\u2019s address, I don\u2019t know this person.<br \/>\n59:36<br \/>\nBut notice how the property classes here.<br \/>\n59:39<br \/>\nAnd the neighborhood is here.<br \/>\n59:41<br \/>\nBut that\u2019s not exactly the legal description. I don\u2019t know what the legal description is.<br \/>\n59:45<br \/>\nBut, if I come down here, and I pick the assessments from the previous years, and let\u2019s get the most recent ones, it\u2019s always going to be the same. But let\u2019s get the most recent assessment that\u2019s going to open up a PDF file.<br \/>\n59:58<br \/>\nAnd look here.<br \/>\n1:00:00<br \/>\nThis is the bill. You guys have seen this before. You\u2019ve seen a notice of assessment, proposed assessment.<br \/>\n1:00:05<br \/>\nOr sometimes, usually, if you can\u2019t find the legal description in the actual computer profile, you could find it.<br \/>\n1:00:13<br \/>\nUm, in the billing statement, for the previous tax period, like, in this case.<br \/>\n1:00:18<br \/>\nSo, here\u2019s the person\u2019s bill, or proposed bill, notice of assessment, and look down here, here\u2019s your property description, That right here, you can copy it.<br \/>\n1:00:33<br \/>\nIf it copied everything correctly, it remember this, there\u2019s a distinction between the property, tax ID, the parcel number, and the property description. There is a distinction, they\u2019re not the same thing.<br \/>\n1:00:44<br \/>\nI mean, obviously they\u2019re not the same information, but it\u2019s different.<br \/>\n1:00:48<br \/>\nSo, I would come back to the deed, the quitclaim deed. Let\u2019s go back there for a second.<br \/>\n1:00:55<br \/>\nHopefully, that copied over.<br \/>\n1:01:00<br \/>\nAll right, and see where I\u2019ve got this highlighted? and I\u2019m going to say, Edit paste special, right?<br \/>\n1:01:09<br \/>\nAnd there you go.<br \/>\n1:01:10<br \/>\nThat\u2019s the legal description of the property.<br \/>\n1:01:17<br \/>\nIt\u2019ll be something like that.<br \/>\n1:01:19<br \/>\nSo you want to keep that in mind.<br \/>\n1:01:20<br \/>\none more thing to keep in mind is sometimes if you want to, if you plan on keeping a property for a long period of time, that the length of time you want to keep the property exceeds the statute of limitations, and there always is for a lien.<br \/>\n1:01:35<br \/>\nIf you\u2019re typically a lien is going to be 20 years, from the date it\u2019s recorded, I don\u2019t know, maybe it might be 10 usually it\u2019s about 20, sometimes 30 I don\u2019t know that there\u2019s any liens that are perpetual. I think all things expire. I\u2019ve never heard of one over twenty though.<br \/>\n1:01:48<br \/>\nSo, if you\u2019re going to keep the property for longer than 20 years, or 50 years or something, or it\u2019s just, you\u2019re just gonna, let\u2019s say never sell it and rent it out, or something like that, and always retain the title, or you don\u2019t care what happens to the title.<br \/>\n1:01:59<br \/>\nMaybe you\u2019re going to convey the title to a trust, or some other state plan or an LLC, and still you don\u2019t need to sell it to dispose of it and take the money from it. If you\u2019re never going to sell it and get the money from it, you don\u2019t care about the equity.<br \/>\n1:02:13<br \/>\nAre you going to keep it for a long period of time? where any liens against it would have been expired?<br \/>\n1:02:17<br \/>\nThen, there\u2019s really no point in doing any of this. You don\u2019t have to eat over the property if you\u2019re just going to keep it for a long time.<br \/>\n1:02:24<br \/>\nUnless someone\u2019s gonna, you know, there\u2019s really no way. There\u2019s no risk, right?<br \/>\n1:02:29<br \/>\nUnless you\u2019re going to dispose of the property.<br \/>\n1:02:31<br \/>\nIf you plan on selling the property in a five years or so, and you think there might be a lien from a creditor on there, well then just did it over.<br \/>\n1:02:38<br \/>\nRight.<br \/>\n1:02:38<br \/>\nAnd then when you sell it, the new owner gets the cash from the proceeds, and you\u2019re in the clear. But if you\u2019re just not gonna sell it, you\u2019re gonna keep it for longer than the statute would allow a lean to exist.<br \/>\n1:02:48<br \/>\nWell, then you go you don\u2019t really have to do anything, because creditors are not able to foreclose on your property. Elk<br \/>\n1:02:55<br \/>\nYou can\u2019t take an unsecured interest where the interest is not expressed, specifically, asked to naming your real estate your parcel of land as collateral for a particular agreement in a lien being recorded. If that doesn\u2019t exist, then your property is not subject to foreclosure. Now, sometimes the IRS could do it. It\u2019s very unusual, though, for the IRS to do that.<br \/>\n1:03:16<br \/>\nSo, just keep that in mind.<\/p>\n        <\/div>\r\n    <\/div>\r\n\r\n    \r\n<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0af503b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0af503b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ef85d1c\" data-id=\"ef85d1c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a427a88 elementor-widget elementor-widget-spacer\" data-id=\"a427a88\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6b7eec4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6b7eec4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5a1c1b2\" data-id=\"5a1c1b2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-aad0573 elementor-widget elementor-widget-text-editor\" data-id=\"aad0573\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The Slack Group is no longer available as it has been transitioned into a <strong><a href=\"https:\/\/privacyfight.io\/telegram-channel\/\">Telegram Group<\/a><\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-adef561 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"adef561\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-40a23a6\" data-id=\"40a23a6\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b4b588b elementor-widget elementor-widget-spacer\" data-id=\"b4b588b\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7ec1873 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7ec1873\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1a3b705\" data-id=\"1a3b705\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4163cc9 elementor-widget elementor-widget-text-editor\" data-id=\"4163cc9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>Summary<\/strong><\/p><p style=\"padding-left: 40px;\">1. John Jay Singleton demonstrates how to put a lien on a residential property&#8217;s equity. It can be effective whether the homeowner has a mortgage or not.<br \/>2. He suggests using an LLC or a trust to control the lien since the title holder cannot also be the lien holder.<br \/>3. He explains how to download government lien instruments and tailor them for a specific property, using Monroe County, Georgia as an example.<br \/>4. He guides viewers through filling out the lien document, mentioning necessary details like property descriptions, and advises on getting it recorded at the local court.<br \/>5. Singleton explains the method of creating a note using an online template, specifying details like the interest rate and payment schedule. The note legitimizes the lien and is vital for the defense in case of a lawsuit.<br \/>6. He explains how to obtain a real interest rate and amortize it using online tools, emphasizing the importance of realistic numbers for the credibility of the lien.<br \/>7. He advises viewers on the possibility of losing homestead exemption when transferring the title with a quitclaim deed and warns about tax consequences due to title conveyance.<br \/>8. Singleton then discusses the importance of considering potential losses of property tax exemptions before transferring the title, particularly in states like California and Florida.<br \/>9. He explains how a property lien won&#8217;t protect against tax claims as state tax and IRS have superior lien positions, making title transfer necessary in some cases.<br \/>10. Lastly, he demonstrates how to complete and file a quitclaim deed, stressing the importance of proper notification to the mortgage bank.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ed18244 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ed18244\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3d5b4e2\" data-id=\"3d5b4e2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>U1 &#8211; Equity Stripping &#8211; Part 1 &#038; 2<\/p>\n","protected":false},"author":131,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[124],"tags":[],"_links":{"self":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/6893"}],"collection":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/users\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/comments?post=6893"}],"version-history":[{"count":7,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/6893\/revisions"}],"predecessor-version":[{"id":25115,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/6893\/revisions\/25115"}],"wp:attachment":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/media?parent=6893"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/categories?post=6893"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/tags?post=6893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}