How Much We Really Need to Be On the Phone (1088)

Transcript:

Steve:                   Steve and Jill here.

Jill:                          Hi.

Steve:                   Welcome to the Land Academy show, entertaining land investment talk. I'm Steven Jack Butala.

Jill:                          I'm Jill Dewitt, broadcasting from sunny Southern California.

Steve:                   Today Jill and I talk about how much do we really actually all need to be on the phone in this business.

Jill:                          A lot.

Steve:                   What are you looking at back here?

Jill:                          I don't know. I thought I was ... I'm expecting people to walk by that we might recognize and so I was just kind of keeping an eye out.

Steve:                   Why isn't that, Jill?

Jill:                          I don't know. Anyway ...

Steve:                   Before we get into the topic, let's take a question posted by one of our members on the landinvestors.com online community. It's free.

Jill:                          Kyler asks, "Does anyone have experience with quiet titling a property in Texas? There are no other persons claiming ownership. There's just a cloud in the title because the property was owned in a DBA. Debt Doing Business As of a husband that is deceased. The title company instructed us to quite title the property into the wife's name. Never done this before and would love specific input and steps on how to take the process." Thank you. I love that. [crosstalk 00:01:11].

Steve:                   Kevin answers this perfectly. Kevin, our moderator on land investors and then I'll have a couple of comments right after.

Jill:                          Thank you for sharing.

Steve:                   What does that mean?

Jill:                          I don't know. I just think silly.

Steve:                   What does that mean?

Jill:                          I don't know.

Steve:                   Thank you for sharing. This is what the show is. I share some stuff. You share some stuff.

Jill:                          Just the way you interjected there. I thought it was funny. Kevin, our moderator is going to answer this perfectly and we're going to get right back to you in a moment.

Steve:                   You know why I said it that way? I had to get it in there quickly because I think you're ready to just jump in.

Jill:                          I was. That's usually what I do.

Steve:                   Sometimes Kevin answers. Sometimes not. Sometimes Kevin answers perfect. Perfectly, and I just throw it in here. You were about to go off the teleprompter again.

Jill:                          No, I wasn't. I was continuing to read. I can [inaudible 00:02:01].

Steve:                   Jill's famous for going off script.

Jill:                          Really?

Steve:                   Yeah.

Jill:                          I don't think it's me.

Steve:                   Famously.

Jill:                          All right. Anyway, Kyler, I would not pay for quiet title and put the property in the wife's name. You could lose control of it. This is good advice. She might sell it to your friend after you've paid for the quiet title. Quiet title can take about three months and will cost some money, maybe two to $3,000. if you go this route, you can get an attorney to help you make the agreement with the wife to accept the purchase amount and make no claim on the quiet title. Bottom line is talk to an attorney on this one if it's worth it. That's such good advice.

Steve:                   It's great advice and what he's talking about. What this whole topic is is called equitable title. It's everywhere in the whole country. Equitable title means you don't own the property but you have an interest in it. This is what actually foreclosing on a tax lien is. You have a an interest in the property because you own that tax lien. Let's say you bought the tax lien from the country.