Ownership in Severalty - I like to remember that it is ownership by one person because everyone else’s ownership has been “severed” from the single owner. Maybe that helps someone!
I just finished my class from another school and I wish I would've taken Travis's class. He has taught me more stuff I should've known through my other class!! He is awseome!!
Hello from Baltimore ❤ Mr. You are the best ! I thank god I found these videos I’m currently in class and let’s just say the teaching is nowhere near this good 👍 thanks so much!
I know this video is older but I appreciate how you explain things. This chapter kept tripping me up by now after watching your video I feel much more confident about it!😊
Thank you, Travis!!! I just got my MD real estate licenses, and it’s thanks to you! Your videos were extremely helpful, before them I was so lost, especially since English isn’t my first language, you really helped me out understand everything. Will continue to watch your videos because I think you give an amazing advices from the real world when it comes to real estate. I took a real estate classes before, and they just thought us how to pass this exam following the book. And I was so confused and didn’t learn anything after my class was over. You gave so many helpful information that anyone can understand. Thank you so much! 🙏🙏🙏🙏🙏
I just want to say thank you so much Travis, your videos made everything very interesting, fun, and easy to learn and understand! I had no luck with my state course I had to take. So your classes saved me and made everything so much clearer! I just passed my exam!!!
@@traviseverette- I have completed my 90 hour course, and have taken the PSI exam once. I passed the state but failed the national portion. I have been searching for videos for a better understanding of what I am trying to learn, you sir are the one. You explain things so well. Wish that you were in Louisiana. THANK YOU for the videos and for being such a dedicated instructor. You rock!!!!!
I'm on Section II, chapter 5 in my book and I've followed every one of your videos along with my book and online real estate platform and Aced all quizzes and tests so far. You're an awesome Teacher. My only advise is when you're doing illustrations, have the folks come to the front , making it easier to see :-) awesome job!!
To be clear, yes, you need to read over the association agreement for a condo. Not only to assess the function and financial of the association but all of it's other agreements. Pets and care, etc. In mine, I do own the interior walls. Everything inside the studs of the outer walls is mine to do with what I like so long as it doesn't effect the building structure. So, read your association agreement as well as it's functionality. It's not ALWAYS simply air space.
It is for exam purposes Tony. These classes are designed to get licensees to the point of being able to pass the licensing exam. Learning the actual practice of the business is for another time and place.
About to purchase a condominium here in LA, I didn't realize it is condominium until they gave me the PDFs to read before I sign, and after reading it got scared and had 180, but then I talked to the sales manger and the HOA management, and after negotiating the price even lower decided to move forward, then I saw your class and when I heard "you own air" I am having second thoughts again :) To clarify, this is new construction I still have 3 days to change my mind (they give us 5 days here) but the deal is really good for what you get I am not going to lie, issue is all the HOA restriction makes me feel I can't do anything, and those are really nice "single units" with big yards, no shared walls, you can't tell it's condominium by just looking at it, that's why I was so surprised, I knew there is HOA but thought those are single homes detached with common areas which the HOA is responsible for. Things like, can't wash my car in my own drive way, my own water in my own property, or put a shed in the yard or convert half the garage to either little gym or working area are not allowed, though I heard people do it anyway as long as you don't have a bad bored neighbor. But let's say I want to put a shed, or add Coyotes Rollers to my fence, or change it a bit, I will have to submit request to do so and pay $95 application fee, it can take up to 45 days. So what are your thoughts about this? Important to note it will be impossible to find anything close to this deal price wise in the single home market, this condo/house comes with everything a smart home you can think of, so its either this or wait who knows how long in our very tiny apt.
@@traviseverette Thank you! I was totally fine until you said airspace:) But it’s a bit different in this situation, I’ll own the land part and the structure, but not the minerals. It is definitely not what I wanted but based on the current market in California LA in specific it might be a good option. The funny part I do own other two rental properties single, homes but outside of California, I could purchase 10 properties there in the price of what i am getting here, well baby steps I guess. Thanks again, I learned a lot form this video.
Travis Everette.... What will happen if you're in a joint tenancy with other people that arent your wife and you get a divorce? How will that impact ownership interests between the current joint owner and the ex wife?
Thanks man your great i have a question i have an opportunity to purchase a property its just land the title bares two names ones owner is incarcerated and the other just wants to let it go the land is also almost 30days away from auction for taxes how do i go about taking advantage of the still the one owner has no interest in the land and the other person on the title is incarcerated for life
Tenancy in Severalty: 1. Just one owner 2. A solo ownership 3. Real Estate owned by one person or a single entity (Corporation LLC). 4. Ownership in Severalty
If you purchased a home as a married couple later separate redeed the home and don’t divorce who has rights to the home? Do both have rights or just the one living in the home? Also if the one spouse purchased a home does the other spouse have rights to that home because the are still married?
so what if two ppl buy a house not married . tic.? Then they get married do they become then joint tenants. (?? Im in ohio no TIE) but in your state they would be TIE? what if they still together but then get divorced. one more question. there is nothing in ohio for married ppl?
Are these videos only for people who are in North Carolina, I am learning a lot from these videos but I am in Tennessee and I fear that what you are teaching only pertains to North Carolina. Please let me know and thank you for these amazing videos.
@travis When a Joe purchases a property tenant in common with a friend Steve, then Joe gets married to Sue. Joe and Sue live in the property and Sue makes the mortgage payments. Joe dies. Who owns the property?
The initial purchase has two owners....Joe and Steve. Joe's marriage adds a 3rd owner as now his share of ownership is shared with his spouse Sue. So at this point, Joe and Sue own a share with their friend and tenant in common Steve. Ignore the who occupies and makes payments because it is unneeded info. If Joe now dies, his portion of ownership passes to his spouse and co-owner Sue. Steve's portion of ownership is unaffected by this death. Sooooo.....now Sue and Steve own the property as tenants in common.
This is the only youtuber who actually breaks down every topic so I can understand the course I'm taking.He is the best.
Ownership in Severalty - I like to remember that it is ownership by one person because everyone else’s ownership has been “severed” from the single owner. Maybe that helps someone!
You're an angel!
Best real estate teacher ever find on UA-cam, all I can pray for you #Travis for your videos.
Definitely the best.
I legit feel apart of this class lol. Its like I know the people in there to lolol 😅
Same here. 😂 I’m over here participating and answering too. Lol.
Likewise! I really wish more teachers would do this on UA-cam.
Same 😂
This man is a legend, thank you so much for your efforts.
Just the best! Travis makes something so difficult sounds so easy and makes a lot of sense
I just finished my class from another school and I wish I would've taken Travis's class. He has taught me more stuff I should've known through my other class!! He is awseome!!
I'm glad it was helpful. Come see us for your postlicensing! www.panrealestateschool.com
I feel the same way .
Me too
Hello from Baltimore ❤ Mr. You are the best ! I thank god I found these videos I’m currently in class and let’s just say the teaching is nowhere near this good 👍 thanks so much!
I know this video is older but I appreciate how you explain things. This chapter kept tripping me up by now after watching your video I feel much more confident about it!😊
Fantastic teacher! No words on how I can describe the way of your teaching.
Thank you for uploading videos
Thank you, Travis!!! I just got my MD real estate licenses, and it’s thanks to you! Your videos were extremely helpful, before them I was so lost, especially since English isn’t my first language, you really helped me out understand everything. Will continue to watch your videos because I think you give an amazing advices from the real world when it comes to real estate. I took a real estate classes before, and they just thought us how to pass this exam following the book. And I was so confused and didn’t learn anything after my class was over. You gave so many helpful information that anyone can understand. Thank you so much! 🙏🙏🙏🙏🙏
Do you mentor people?? You are an amazing resource! I feel like you help set people up for success to pass the exam and beyond!
I am from Illinois and all I gotta say is them folk students were very fortunate to have such a good and humble teacher.
Travis you are good at breaking it down making it engaging and Fun ! We love ❤️ you Travis ! God bless you !!
I covered these in my online class today. Your explanations are so insightful! I like how you break things down.
The best real estate teacher on UA-cam !! I have learned so much already, thank you!
Thank you Travis ! You are a exceptional Teacher ! You’ve helped me lots ! God Bless you
THIS is teaching!!!
I wanted to come back and thank you for all your videos! They helped me pass both state and national first try!
Even though I am living in NY, I love listening to your lessons. You explain the concepts well.
I just want to say thank you so much Travis, your videos made everything very interesting, fun, and easy to learn and understand! I had no luck with my state course I had to take. So your classes saved me and made everything so much clearer! I just passed my exam!!!
Congrats I am currently working on mine.
@@rhode2hope948 what state?
@@gabrielsilvas692 Minnesota
Excellent teacher!
You ROCK SIR!! I wished you were in Illinois... I watch your videos before my lessons and it’s helps my perspective and understanding! Bless you!
I love his teaching. It’s helping me out a lot with my online class. ❣️
Well... I just signed up to one of his class! I am amazed by his teaching skills
Thank you so much for your videos Travis
Still watching 1/18/2021. Thank you for your teachings!
This man is the absolute best!!!
So nice of you to say!
@@traviseverette- I have completed my 90 hour course, and have taken the PSI exam once. I passed the state but failed the national portion. I have been searching for videos for a better understanding of what I am trying to learn, you sir are the one. You explain things so well. Wish that you were in Louisiana. THANK YOU for the videos and for being such a dedicated instructor. You rock!!!!!
Thank you so much for uploading the classes, it help me a lot since I took my classes online, you are awesome teacher!!
Did you get your license?
I'm on Section II, chapter 5 in my book and I've followed every one of your videos along with my book and online real estate platform and Aced all quizzes and tests so far. You're an awesome Teacher. My only advise is when you're doing illustrations, have the folks come to the front , making it easier to see :-) awesome job!!
To be clear, yes, you need to read over the association agreement for a condo. Not only to assess the function and financial of the association but all of it's other agreements. Pets and care, etc.
In mine, I do own the interior walls. Everything inside the studs of the outer walls is mine to do with what I like so long as it doesn't effect the building structure.
So, read your association agreement as well as it's functionality. It's not ALWAYS simply air space.
It is for exam purposes Tony. These classes are designed to get licensees to the point of being able to pass the licensing exam. Learning the actual practice of the business is for another time and place.
About to purchase a condominium here in LA, I didn't realize it is condominium until they gave me the PDFs to read before I sign, and after reading it got scared and had 180, but then I talked to the sales manger and the HOA management, and after negotiating the price even lower decided to move forward, then I saw your class and when I heard "you own air" I am having second thoughts again :)
To clarify, this is new construction I still have 3 days to change my mind (they give us 5 days here) but the deal is really good for what you get I am not going to lie, issue is all the HOA restriction makes me feel I can't do anything, and those are really nice "single units" with big yards, no shared walls, you can't tell it's condominium by just looking at it, that's why I was so surprised, I knew there is HOA but thought those are single homes detached with common areas which the HOA is responsible for.
Things like, can't wash my car in my own drive way, my own water in my own property, or put a shed in the yard or convert half the garage to either little gym or working area are not allowed, though I heard people do it anyway as long as you don't have a bad bored neighbor.
But let's say I want to put a shed, or add Coyotes Rollers to my fence, or change it a bit, I will have to submit request to do so and pay $95 application fee, it can take up to 45 days.
So what are your thoughts about this?
Important to note it will be impossible to find anything close to this deal price wise in the single home market, this condo/house comes with everything a smart home you can think of, so its either this or wait who knows how long in our very tiny apt.
You have to weigh all the positives and negatives. Sounds like you're doing that. Ultimately, only you know what is most important for you.
@@traviseverette Thank you! I was totally fine until you said airspace:)
But it’s a bit different in this situation, I’ll own the land part and the structure, but not the minerals.
It is definitely not what I wanted but based on the current market in California LA in specific it might be a good option.
The funny part I do own other two rental properties single, homes but outside of California, I could purchase 10 properties there in the price of what i am getting here, well baby steps I guess.
Thanks again, I learned a lot form this video.
Mr. Evertte, thank you so much. You need to be at Harvard teaching RE.
Maybe one day!
I wish I could attend your class rn! Lol, the only obstacle is that you're a few states too far
Travis Everette.... What will happen if you're in a joint tenancy with other people that arent your wife and you get a divorce? How will that impact ownership interests between the current joint owner and the ex wife?
Does the seven day rescission period start in the date of the signing or the day after it’s signed?
Thanks man your great i have a question i have an opportunity to purchase a property its just land the title bares two names ones owner is incarcerated and the other just wants to let it go the land is also almost 30days away from auction for taxes how do i go about taking advantage of the still the one owner has no interest in the land and the other person on the title is incarcerated for life
Hey did everything work out for you ?
I love it
Why isn't Hawaii included in selling time shares?
Ownership of my resposibility
CONCURRENT OWNERSHIP:
1. Tenancy in Common
2. Joint Tenancy
3. Tenancy by the Entirety
4. Tenancy in Severalty
Tenancy in Common
Tenancy by the entirety:
1. The Right of Survivorship
Tenancy in Severalty:
1. Just one owner
2. A solo ownership
3. Real Estate owned by one person or a single entity (Corporation LLC).
4. Ownership in Severalty
If you purchased a home as a married couple later separate redeed the home and don’t divorce who has rights to the home? Do both have rights or just the one living in the home? Also if the one spouse purchased a home does the other spouse have rights to that home because the are still married?
Yes and Yes.
so what if two ppl buy a house not married . tic.? Then they get married do they become then joint tenants. (?? Im in ohio no TIE) but in your state they would be TIE? what if they still together but then get divorced. one more question. there is nothing in ohio for married ppl?
I live in CA should I still listen to this?
can this class help someone taking their real estate license in Florida?
Are these videos only for people who are in North Carolina, I am learning a lot from these videos but I am in Tennessee and I fear that what you are teaching only pertains to North Carolina. Please let me know and thank you for these amazing videos.
SO I NEED TO RE DEED MY PROPERTY
Tenancy by the entireties does not exist in Arizona
Nor Connecticut
@travis When a Joe purchases a property tenant in common with a friend Steve, then Joe gets married to Sue. Joe and Sue live in the property and Sue makes the mortgage payments. Joe dies. Who owns the property?
The initial purchase has two owners....Joe and Steve. Joe's marriage adds a 3rd owner as now his share of ownership is shared with his spouse Sue. So at this point, Joe and Sue own a share with their friend and tenant in common Steve. Ignore the who occupies and makes payments because it is unneeded info. If Joe now dies, his portion of ownership passes to his spouse and co-owner Sue. Steve's portion of ownership is unaffected by this death. Sooooo.....now Sue and Steve own the property as tenants in common.
Long story short im not getting married until ive made all my billions. Yikes
THIS is teaching!!!