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Question 6: Can Your Property Be Taken From You? - YouTube
Channel: The 8 Questions Show
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previously on the eight question show
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right so how hard is it
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to own the rights of property or like
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what to like is it like what is it is it
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is it a similar process saying that i
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want this land and all the rights to it
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or is it or is it another process to own
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rights it depends how that sale is being
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conveyed okay so
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first of all to go back to what you said
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that is a potential lawsuit for the
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brokerage because the realtor it was his
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job
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to do that due diligence and say hey
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look when you purchase this property
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just to let you know you're only
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purchasing this you can't afford that's
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why i'm front line hand to sword i do
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this all for myself not the cash or no
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damn award i need intelligence to craft
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my bars i need the medicine that grows
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effervescent from the hands of god i
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need inheritance to slash the odds
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create a pipeline to the well while you
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grasping
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eight questions
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eight questions eight questions eight
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questions eight questions eight
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questions eight questions welcome back
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to the eight question show where we
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inject knowledge in your brains by
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asking the right questions
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so
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our friend real estate pete is here
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and
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the questions are only getting deeper
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and deeper and deeper and now we're
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about to ask a question that personally
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i'm very curious about because
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you know
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do you truly own your home so hey
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real estate p
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can your property
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be taken
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from you
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yes
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okay so if i own my home i'm paid
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everything off i'm like i am done with
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this mortgage i love my place i'm in
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love with it i can still my property can
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still be taken away from me yes
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okay how's the hell can somebody explain
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properly
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well the easiest way
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is
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to have a lien of some sort on the
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property
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a lien sounds exactly what it's
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what it sounds like someone's leaning on
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you
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saying hey look
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you don't pay me i'm gonna take it
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exactly so
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let's say you paid your house outright
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paid for everything
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but you still have to pay taxes exactly
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if you decide not to pay taxes or if
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you're against paying taxes or if you
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don't have the money to pay those taxes
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you will get a tax lien put on that
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property and they will take it
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they will remove you from that property
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there's also another one
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eminent domain
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this is the now this is when i hate that
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word i know
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literally
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and it happens yes it happens happened
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locally yes 84 81 yeah there you go
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interstate 81. eminent domain is when
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the government says
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we're taking it
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and that's that
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nothing you could do
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um
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sometimes or most of the times
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especially in in history
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it's been
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looked at as predatory
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uh you could purchase a home in an area
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you know for whatever reason and
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you know you don't really know what's
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going on or what big corporations are
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moving in or what the state or the city
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plans to do with that property and
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they'll be like hey look um we're gonna
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build a highway
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right through your neighborhood so we're
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gonna need you to leave and that
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happened in a lot of in low-income
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neighborhoods
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throughout history wow the greater good
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of the of the people that actually
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happened to a restaurant in new york
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city brian really
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it was a steakhouse it was there for
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22 years family owned
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everybody came there
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they wanted to tear it down because they
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were building a mall
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and they needed parking
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oh my god and not only of course if he
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wasn't just his because you know new
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york city everything's connected to each
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other but
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they they took out a whole
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restaurant community to build a parking
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lot
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and they use eminent domain
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right
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um now i'm curious i don't know i don't
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know if there's a way around this
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is there
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is there a way to protect your property
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from that like no no eminent domain is
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signed still delivered like you there
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there's nothing you could do
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the whole concept this was in i think
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rich dad poor dad
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talking about
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what does real estate even mean
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and it's a derivative like because you
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you hear the word yeah yeah yeah real
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estate you're like oh yeah whatever it
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means houses but like no think of the
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word exactly real was a derivative of
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the word royal
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and they used to call it like the royal
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estate it's like the country that you
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live in the land is actually the
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country's land
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and like pete said if you don't pay your
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taxes on it they'll take it back easily
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easily take it better put a lien on it
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and did you say they'll kick you out
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like how i wonder how bad this is
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probably more of an attorney question
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but i wonder how bad it's got to get
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before they're like
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i know you think you own this house but
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get the hell out of here you haven't
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paid your taxes um it depends it could
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be like i said that
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the
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my ex-girlfriend didn't pay the mortgage
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or anything
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for seven years she had multiple liens
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on the house that's crazy and she had to
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you know i don't know how she got away
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with it for that long but she eventually
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had to pay up on everything
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um really
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oh wow oh you have to oh yeah
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in the community i live in right
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in the hideout
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they have something called hoa
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fees they're dues that you have to pay
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annually
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now can you live there without paying
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these dues absolutely because you still
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own the house
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but
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once you stop paying those dues they
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give you like a red sticker now you
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can't use the amenities in the community
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as time goes on those fees build up and
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when you go to sell your house there's a
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lien on it and they'll take that money
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right from the proceeds
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damn of you selling your house i did not
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know that even though you haven't been
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using the amenities it doesn't matter
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they they're owed that money since the
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home is located in is an association
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correct you can you i would definitely
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say
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um reach out to an attorney regarding
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that like that's another thing too let's
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get into that
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your real estate agent can help you
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but there's certain things that you
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definitely need to reach out to an
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attorney to certainly iv okay that even
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if i know the answer
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i'm technically not qualified to give it
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to you
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call a lot
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i see like if you're if your property is
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under eminent domain don't call me
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all right so what about instances um
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divorce what about you get sued
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tell us about that are those other
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situations well divorce is a big thing
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um you know
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this podcast is brought to you by
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i know a guy
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who's in a situation right now where
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you know he's in the process of breaking
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up with his significant other
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one party wants to sell the other
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doesn't
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the other party can't force the other
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person to sell they're both on the deed
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um
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and it just it becomes a battle you got
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to get an attorney involved and you got
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to apply pressure any way you can it's
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things get
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again are you ready to purchase this
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home is the let's say i'm purchasing it
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with
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you know my girlfriend
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i don't know how long we're going to be
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together
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but i purchased this home next thing you
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know we break up
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i'm not paying a mortgage while neither
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am i
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all right fine let it just go into
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foreclosure oh well then my credit's
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going to grow and all right so then pay
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it no
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again were you ready to buy that house
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no
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um
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uh divorce is a big thing
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death is also a big thing oh man now
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let's say let's say right
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well it
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gets real
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in depth but let's just say dad passes
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leaves the home in his or doesn't have a
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will
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now the state has to decide who does
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this property go to or or whatever it
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depends on the situation but there
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now people are
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now this is where forensic files comes
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in 100 murder plots you know what i mean
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like things get real serious
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when it comes to this and
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will there be a lien on the property
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potentially if no one's paying for it
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yeah you know now we got to figure out
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what to do typically they'll just say
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just sell it we'll split whatever
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money's left over after
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these taxes and and mortgages whatever
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is paid
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so going back to the uh the idea of
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valuing property
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what does the state do with these houses
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that they kick you out of are are you
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able to go go in there and buy these
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properties from the state at discount
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prices well it's not the state that
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kicks you out so it depends where the
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lien is coming from if your home goes
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into foreclosure it's because you didn't
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pay the mortgage so you have a mortgage
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lien okay so now the bank is just the
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all they're worried about is getting
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their money exactly um
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so it really depends what what happens
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uh but the state
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can't come in and kick you out unless
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again it's like an eminent domain
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situation or like a tax lien
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well even a tax right or a tax lien yeah
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so with the tax lien though let's say
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you own your house out right and again
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if this is your turn
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you're not paying your taxes can they
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kick you out and be like pete you want
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this house for like the last two years
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of taxes this dude didn't pay and now
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you get like a four hundred thousand
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dollar house for like eight eight grand
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that happens well it used to happen a
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lot more at those prices like i said the
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tax sales uh lackawanna county has
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attacked so where
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back maybe even three four years ago
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i could go to the tax sale and pick up a
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property maybe for like
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three grand
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i bought a plot of land for a hundred
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dollars a tax sale i knew i got it it
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was disgusting i had a guy i bought a
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whole house for three thousand dollars
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we put a little bit of money in it sold
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it for 150 000. goodness gracious so it
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depends how you know how savvy you are
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and then even with the tax sales you
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have to have some prior knowledge of
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these properties it's not like well okay
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in the next house up and they put it on
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a big screen and go this house has this
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and this and that you have to get the
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the information on the homes that will
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be available and have that tactile first
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and do your due diligence you know i
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want to go back to the example in terms
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of like like the estate thing too
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my family
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um
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we
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my great grandfather was
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um he
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owned all this land
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passed away in 87.
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um
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[Music]
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none of his children wanted to do
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because it's a it's a it's a it's the
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country part of georgia right but
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beautiful 120 acres beautiful
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um
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nobody did anything from 1987 to 1993.
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dad takes it over my dad takes it over
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writes everyone a letter all the errors
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to to the property this is what i'm i'm
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about to do
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do you all want in
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because i don't want of course is your
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property so i don't want to you know
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step on anybody's toes if anybody's not
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saying the drama starts right they said
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no that's where the drama starts they
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said
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no they said no right where the drama
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starts in 1993
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now mind you they came down to the house
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they purchased my dad turned into a beef
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cattle farm nice um on he did it for a
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tax writer because he was in i.t but he
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did it as a tax write-off
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so from 1993 to
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and 2013
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no issues
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no issues at all people will come down
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and and do whatever
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right
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one day
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a cousin comes down visits the property
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he's been in there numerous time
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he sees a transaction my dad has with
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somebody who wants to buy a couple of
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cows from them
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cash transaction guys come up with a
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with a fist for the cash the exchange
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buys two cows he's he doesn't he's not
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thinking about
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the cash that he has now has to go back
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into the repairs of the equipment he's
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thinking that he's pocketing the money
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so now
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he he plans a coup come on
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he gets all of like my dad's uh
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aunts and uncles people that he wrote
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the people that he wrote the uh letter
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to
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he says and says that
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he's taking all this cash and putting in
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his pocket
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we're losing out on quote unquote
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millions of dollars that's not that at
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all
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so
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next thing you know
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we're in court
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they send the people down to the
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property to say like you're doing
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everything illegal i don't know how it
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works in pennsylvania
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but it came so everything
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went to court luckily my dad had every
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tax receipt he paid
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all his ducks in a row so then they so
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it when they went into court
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and the judge is like
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well
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technically you're the heirs so you can
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take it but you have to pay him back all
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the property taxes he paid right damn i
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was going to say unless they are selling
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the property yeah
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you know then it gets divvied up exactly
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but if it's not
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you know call your lawyer because now
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things are now that's where the drama
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starts that's where things get
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real tied up and he like you said he had
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to come and show all his receipts
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for everything to get the exact value of
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whatever it is that they were looking
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for exactly like they felt like they
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were owed this
[853]
money for whatever reason 100 that's
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something you your attorney and then
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they try to jack up the price well we
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want 10 million the problem right worth
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nowhere near that so relax so what is
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thanksgiving like now at your house we
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haven't seen them in years see
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[Music]
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forensic files
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right so to sum it up your property can
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be taken from you yes there's a whole
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bunch of different ways you can handle
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his weight the worst way sounds like
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imminent domain because it's the most
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forceful but the saddest way is it can
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happen in a big messy drawn-out
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legal mechanic liens too let's say that
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um
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you got all this work done
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to your house
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and
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you never paid the contractor in full
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they could put a lien on your property
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yeah
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didn't know they had that kind of power
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yeah
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think about that
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wow that too
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so can your property be taken from you
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abso absolutely
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absolutely well listen listeners make
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sure you thank you for tuning in again
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make sure you comment subscribe like we
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will see you all next time now
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question seven here we go real estate
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piece is gonna answer for us and i can't
[922]
wait for this one is owning a home still
[925]
the american dream why or why not i'll
[928]
see you all next time on the next
[930]
episode of the 8 question show if you're
[932]
starting from ground zero
[934]
let's just say your dad was uh you know
[936]
the local
[937]
barber in the area and your mom was a
[940]
housekeeper
[942]
and you grew up you know
[944]
barely making ends meet as a child
[947]
where do you start
[948]
you gotta do something
[951]
you know where do you begin
[953]
and again this is where
[955]
the
[956]
communication
[958]
gets lost because like that kid that i
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went to he he had all the criteria to
[963]
buy a home
[965]
but he had no clue how to go about it
[968]
because again he calls the realtor hey i
[971]
want to buy a home okay you pre-approved
[972]
no all right goodbye click
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