Register a SA Forums Account here!
JOINING THE SA FORUMS WILL REMOVE THIS BIG AD, THE ANNOYING UNDERLINED ADS, AND STUPID INTERSTITIAL ADS!!!

You can: log in, read the tech support FAQ, or request your lost password. This dumb message (and those ads) will appear on every screen until you register! Get rid of this crap by registering your own SA Forums Account and joining roughly 150,000 Goons, for the one-time price of $9.95! We charge money because it costs us money per month for bills, and since we don't believe in showing ads to our users, we try to make the money back through forum registrations.
 
  • Post
  • Reply
Alan Smithee
Jan 4, 2005


A man becomes preeminent, he's expected to have enthusiasms.

Enthusiasms, enthusiasms...
https://twitter.com/TheEpicDept/status/1296593764421697538?s=20

Adbot
ADBOT LOVES YOU

TheMadMilkman
Dec 10, 2007

I know of exactly one divorce with a prenup that went well. It was an older couple, both their prior spouses had passed away, they were both very wealthy, and they had the prenup hammered out by both of heir lawyers.

The marriage barely lasted a year, but there was no question about who took what assets in the divorce.

Ghost Leviathan
Mar 2, 2017

Exploration is ill-advised.

Leon Trotsky 2012 posted:

I've actually seen something extremely close to this. It was a double whammy too - a sovereign citizen marriage and a non-white sovereign citizen.

It was an older (50's) black guy who was in the middle of bankruptcy and recently went through a divorce. He had a 45+ minute meltdown that included the following:

- He was never married to this woman because [his name] was married to this woman and [his name] has social security number XXX-XX-XXXX that was assigned to a corporation with his name, but not him.
- He was a "Moor" and was only subject to Moorish law. The United States had no jurisdiction over Moorish travelers.
- Lots of screaming about "colorable law" that has nothing to do with bankruptcy or divorce.
- The garnishment of his wages was illegal because Moorish law forbids the payment of taxes or garnishments to foreign governments and the United States signed a treaty recognizing Moorish claims.
- All the debts and claims against him in bankruptcy were actually claims against a corporation that he was merely a shareholder in and shareholders have no legal obligation to pay the debts of corporations they invest in.

He had a laminated ID with the "Moorish Flag" that said he was a Moorish citizen that was not bound by any municipal, state, or federal laws of any nation.

Non-white sovcits are a weird and sad thing especially given the basic foundation of sovcit nonsense is a fundamental misunderstanding of the dynamics of law and power. (Hence why even anarchists will laugh at a sovcit getting tased by the cops as they scream about creating joinder) Such a misunderstanding is something a black American absolutely cannot afford to do given the potentially fatal outcomes even when complying with authorities.

Runcible Cat
May 28, 2007

Ignoring this post

Wesley Snipes is some flavour of sovcit, isn't he? Though I suppose money and recognisability give him some safety advantages over the average black guy.

Alan Smithee
Jan 4, 2005


A man becomes preeminent, he's expected to have enthusiasms.

Enthusiasms, enthusiasms...
Didn’t keep him out of prison

Midjack
Dec 24, 2007



Runcible Cat posted:

Wesley Snipes is some flavour of sovcit, isn't he? Though I suppose money and recognisability give him some safety advantages over the average black guy.

He tried the Section 861 argument, which applies to non-us residents.

doingitwrong
Jul 27, 2013

Subjunctive posted:

The copious red flags have gold fringe.

This made me laugh

Alan Smithee
Jan 4, 2005


A man becomes preeminent, he's expected to have enthusiasms.

Enthusiasms, enthusiasms...
https://twitter.com/UNILAD/status/1296405367233052674?s=20

Soylent Pudding
Jun 22, 2007

We've got people!


Ghost Leviathan posted:

Non-white sovcits are a weird and sad thing especially given the basic foundation of sovcit nonsense is a fundamental misunderstanding of the dynamics of law and power. (Hence why even anarchists will laugh at a sovcit getting tased by the cops as they scream about creating joinder) Such a misunderstanding is something a black American absolutely cannot afford to do given the potentially fatal outcomes even when complying with authorities.

Also a lot of the underlying sovcit ideology is the idea of being screwed by the system and the power fantasy of learning the secret ways to fight back against the peole and systems screwing them and ruining their life. In that sense I have maybe the most sympathy for African American sovcits as they've been legitimately screwed by the system.

When I practiced foreclosure defense I saw a ton of blue-collar rural whites go sovcit because in the process of losing their house they ideologically couldn't make the leap from "I'm getting hosed by late stage capitalism" to "capitalism bad". Instead they were seduced by the promise that no, the market is good, it's the government is bad and bad things are only happening to you because you don't know the secret words to keep the government out of your freedom.

So there are people with legitimate grievences who get seduced into the ideology, but then again a lot of those greviences come when a sense of entitlement rooted in privilege hits reality. Like divorce is another case where usually dudes go sovcit and the grievence there is "what do you mean my wife has rights in divorce?"

DarkHorse
Dec 13, 2006

Vroom Vroom, BEEP BEEP!
Nap Ghost

Soylent Pudding posted:

Also a lot of the underlying sovcit ideology is the idea of being screwed by the system and the power fantasy of learning the secret ways to fight back against the peole and systems screwing them and ruining their life. In that sense I have maybe the most sympathy for African American sovcits as they've been legitimately screwed by the system.

When I practiced foreclosure defense I saw a ton of blue-collar rural whites go sovcit because in the process of losing their house they ideologically couldn't make the leap from "I'm getting hosed by late stage capitalism" to "capitalism bad". Instead they were seduced by the promise that no, the market is good, it's the government is bad and bad things are only happening to you because you don't know the secret words to keep the government out of your freedom.

So there are people with legitimate grievences who get seduced into the ideology, but then again a lot of those greviences come when a sense of entitlement rooted in privilege hits reality. Like divorce is another case where usually dudes go sovcit and the grievence there is "what do you mean my wife has rights in divorce?"

Yeah it's a sad situation where they understand "I am getting screwed over by a complex system I don't understand" and someone offers them the magical incantations words and phrases to stop bad things happening.

But because they don't understand the system in the first place they are incapable of assessing if the magic they're offered makes any sense either. And rather than conclude "this is hard and i need an established expert" they choose the "expert" that tells them what they want to hear (for a price, even). It's Dunning-Kruger all the way down.

Soylent Pudding
Jun 22, 2007

We've got people!


And then they don't understand how the magic words could fail unless the system is hopelessly corrupt. And that's how you get them setting their own house on fire just so they can murder the firefighters in an act of 2nd amendment defiance.

Splicer
Oct 16, 2006

from hell's heart I cast at thee
🧙🐀🧹🌙🪄🐸

StormDrain posted:

I think that's going further than they do. To me the buck stops at "she's not earning money and contributing to the household therefore she's not owed money".

The logical thought for me is "we make these big decisions together and have an equal stake in the outcome". I have to assume the worst relationships have one person with no agency at all and therefore the person in power feels justified in taking everything for themselves. I chose this house, I chose my line of work and in successful, I chose the location to live, the other person chooses to stay at home and contribute no money, I could choose not to participate in a career too and we could both be broke.
Sorry I wasn't implying they actually think it through, I was describing the actual situation in the first half to contrast how incredibly stupid the ergo half was.

obi_ant
Apr 8, 2005

DarkHorse posted:

Some great thread highlights in this one

https://www.youtube.com/watch?v=jg85H26wyLk

I haven’t been that entertained in a long time. Thank you.

Leon Trotsky 2012
Aug 27, 2009

YOU CAN TRUST ME!*


*Israeli Government-affiliated poster

DarkHorse posted:

Yeah it's a sad situation where they understand "I am getting screwed over by a complex system I don't understand" and someone offers them the magical incantations words and phrases to stop bad things happening.

But because they don't understand the system in the first place they are incapable of assessing if the magic they're offered makes any sense either. And rather than conclude "this is hard and i need an established expert" they choose the "expert" that tells them what they want to hear (for a price, even). It's Dunning-Kruger all the way down.

There's a certain intersection of mental illness/stupidity with conspiracy theories like SovCits. There are people who are obviously not totally mentally there, but aren't mentally ill or dumb enough to be completely unable to live an independent life.

When you reach the level of "I was legally a corporation at birth, a trillion dollar loan was taken out in my name, my social security number is a secret offshore bank account, the cabal that runs the world is sending me signals with the fringe on their flags, and I actually own part of the corporation that controls the government," then you're well outside the range of someone who just wants to "beat the system" and have to have something that is seriously wrong with you beyond just being dumb and feeling screwed.

threelemmings
Dec 4, 2007
A jellyfish!
Yeah having dealt with a lot of those folks I can't think of many where there wasn't obvious and extreme mental illness, usually something involving a severe break from reality.

I'm sure the "beating the government" or being screwed over also applies to some of those folks but most of them are just not living in the same universe we do. Also anecdotally a lot of animal abuse/neglect for some reason, not sure why that's a thing, maybe the same as that comment above about divorce where the guys are surprised other people have rights and it's not all about you.

threelemmings fucked around with this message at 17:39 on Aug 21, 2020

Soylent Pudding
Jun 22, 2007

We've got people!


Leon Trotsky 2012 posted:

There's a certain intersection of mental illness/stupidity with conspiracy theories like SovCits. There are people who are obviously not totally mentally there, but aren't mentally ill or dumb enough to be completely unable to live an independent life.

When you reach the level of "I was legally a corporation at birth, a trillion dollar loan was taken out in my name, my social security number is a secret offshore bank account, the cabal that runs the world is sending me signals with the fringe on their flags, and I actually own part of the corporation that controls the government," then you're well outside the range of someone who just wants to "beat the system" and have to have something that is seriously wrong with you beyond just being dumb and feeling screwed.

That's how it starts, someone's just desperate or scared enough to not think critically, and then some grifter or true believer pulls them into a batshit cult. Not saying all of them are that way, and I'm not saying they have no responsibility for putting themselves in that situation. I lost a battle with my libertarian doctor uncle who was convinced some sovcit guru's "land patent" scheme would protect uncle's house from eminent domain. No matter how much I told him he was wrong, my uncle argued with me, the licensed attorney doing real estate litigation in the jurisdiction, that I didn't want to understand how the law really worked cuz I'm a socialist addicted to big government.

doingitwrong
Jul 27, 2013
I was part of a group of people who wanted to start a small company together (what we really wanted to do was make video games, and being a company seemed like the best way to do that). While we were trying to navigate the world of business law and translate our intent of treating each other fairly into legally solid contracts, one of the team members took the position that it didn't really matter because if it came to litigation, lawyers would be able to make anything mean anything anyway. This is a wrong idea but not one that fundamentally makes you incapable of living in society because most of the time it's possible to avoid lawyers and this guy would be willing to avoid them at all costs.

A friend of mine who is a lawyer gives a lecture about what they call 'legal talismans": the words and incantations that people who kind of understand that the law exists but also understand it as a foreign entity. The FTP servers who all thought that some kind of click through disclaimer would protect them from the FBI or the people who post clips to YouTube and say "no copyright infringement intended" or the idea that cops have to tell you if they are a cop if you ask. Or, for that matter, the unenforceable non-competes and clickwrap software EULAs. In my work as a freelancer, I worked with large companies whose boilerplate agreements were obviously copied and pasted together frankensteins's contract that made my lawyer friend's eye pop out.

All of these are game of telephone'd rumors about how the world works based on people's distant and frightening interactions with a legal system that shows up in movies mostly as a thing that gets the bad guys off on a technicality or in the news with the various outrageous outcomes of lawsuits or in people being shoved through the justice system.

We're all, like, two bad explanations and one horrible incident away from being sovereign citizens.

Cyrano4747
Sep 25, 2006

Yes, I know I'm old, get off my fucking lawn so I can yell at these clouds.

The flip side of poo poo like non competes and huge as gently caress EULAs is that they DO create a thing which has to be challenged, which means getting a lawyer etc. It's a non-trivial barrier.

DarkHorse
Dec 13, 2006

Vroom Vroom, BEEP BEEP!
Nap Ghost

Cyrano4747 posted:

The flip side of poo poo like non competes and huge as gently caress EULAs is that they DO create a thing which has to be challenged, which means getting a lawyer etc. It's a non-trivial barrier.

Not surprisingly the master of this is Trump, who just keeps throwing bullshit through the system and tries to drain the other side of money.

He loses constantly and basically every time, but very few people have the time and energy and dedication it takes to go through all the hurdles

canyoneer
Sep 13, 2005


I only have canyoneyes for you

doingitwrong posted:

a thing that gets the bad guys off on a technicality

The defendant with a jurisprudence fetish

Leon Trotsky 2012
Aug 27, 2009

YOU CAN TRUST ME!*


*Israeli Government-affiliated poster
Why does Bloomberg have an "Opinion" section for their "Finance" reporting?

quote:

401(k) Plans No Longer Make Much Sense for Savers

The 401(k) retirement plan was authorized by the Revenue Act of 1978, which took effect in 1980, but its real genesis is the 1974 Employee Retirement Income Security Act, which fixed the problem of underfunded defined-benefit plans so thoroughly that private employers stopped offering them. Benefits consultant Ted Benna came up with a way to use the 1978 Act for a tax-deferred, defined-contribution plan and the rest is history.

The tax advantage of a 401(k) depends on four factors, all of which have changed dramatically since 1980 to the detriment of 401(k)s. For a median-income married couple with two children:

The marginal federal income tax rate was 43% in 1980, 12% today
The capital gains tax rate was 28% in 1980, 0% today 1
The likely retirement bracket tax rate was 15% in 1980, 12% today
Interest rates in 1980 were around 15%, compared to 0% today

Making some reasonable assumptions about a worker with 30 years to retirement, the 1980 version of the 401(k) tax deferral was equivalent to an additional investment return of 9.2% per year, an extraordinary incentive to save for retirement, even without an employer match. Using today’s numbers the benefit comes out to 0.6%, considerably less than the 1% to 2% in fees investors pay in typical 401(k) plans.

That example compares investments paying ordinary income tax rates yearly. But investors also have the option of using tax-efficient investments taxed mainly at capital gains rates at time of withdrawal. In the 1980 environment, the 401(k) plan had a 2.5% annual advantage over tax-efficient investments in a taxable account. In 2020, there is no tax advantage remaining to the 401(k).

So in 1980, the government offered a huge tax savings to encourage retirement savings, while today it offers little or no benefit. The employer contribution is still valuable, with a 100% match worth 2.3% per year in extra return over 30 years, but this has nothing to do with the 401(k) structure.

Now that 401(k)s have become the primary source of retirement savings for the middle class working in the private sector, we should restore the large tax incentive and bring fees into line with taxable investment standards. One easy change is to allow workers to roll 401(k) funds over to self-directed IRAs at any time (now they can do it only when they leave a job). 2 That would force 401(k) platforms to compete in an open market, and it costs nothing.

Reducing taxes on 401(k)s will cost the government money, but it could be a good investment if it results in retirement security for more middle-income households. Two simple ideas are to make new 401(k) contributions and accumulated returns from them tax-free when withdrawn in retirement by below-median-income households, and to exclude FICA payroll deductions as well as income tax from 401(k) contributions. Not only would these make the tax advantages of 401(k)s compelling again, they eliminate the danger many workers fear that marginal income tax rates will be higher when they retire (a more reasonable fear at a 12% marginal rate with 2020 government deficits than it was in 1980 with a 43% marginal rate and far smaller deficits). And all the benefit of these changes go to below-median households in retirement, there’s no subsidy for households in the top half of the income distribution.

After all of that, he drops this footnote in at the end to show what he compared against the two-person retired household in 1980 that was paying the highest marginal tax rate:

quote:

Median-income, four-member households in retirement paid 0% capital gains taxes in 2018, the last year for which data are available. Higher-income households and those in different tax situations may pay at rates of 15% or 20% on long-term capital gains.

How is this allowed to be in the finance section (even under opinion) with all of these wild assumptions?

- A four-person retired household (I'm guessing this is a financial analysis for polygamous seniors?) making median income in 2018 gets less of an advantage from tax-deferment than a two-person household making $280,000 in 1980.

Might as well just put some of it in a taxable account and burn the rest!

- The capital gains tax rate is 0% because the median household paid 0% in capital gains taxes.

The cost of owning a Yacht is $0 per year because the median American household spent $0 in Yacht mooring fees in 2018!

- Savings accounts don't pay 15% interest anymore and tax rates never change, so don't bother trying to save anything outside of a taxable account.

- Employer matching doesn't exist.

- You don't have to pay taxes on taxable accounts as long as don't withdraw that year. Dividends and re-balancing are tax free!

Surely, they must have just let a random weird off the street write this?

quote:

Aaron Brown
Former Risk Manager

Aaron Brown is a former managing director and head of financial market research at AQR Capital Management. He is the author of "The Poker Face of Wall Street." He may have a stake in the areas he writes about.

Why would you pay this man to manage your capital?

That isn't even getting into the nit-picky things he ignores like 401(k)s having more protections from creditors or the fact that automatically deducting from your paycheck for retirement means 90% of the people who would never save anything end up saving something.

He took a reasonable assertion like, "401(k)s are slightly less advantageous now than in 1980 (under very specific circumstances)" and took it all the way to "using your 401(k) is throwing your money away!"

https://www.bloomberg.com/opinion/articles/2020-07-21/401-k-plans-no-longer-make-much-sense-for-savers

Leon Trotsky 2012 fucked around with this message at 19:58 on Aug 21, 2020

Krispy Wafer
Jul 26, 2002

I shouted out "Free the exposed 67"
But they stood on my hair and told me I was fat

Grimey Drawer

DarkHorse posted:

Not surprisingly the master of this is Trump, who just keeps throwing bullshit through the system and tries to drain the other side of money.

He loses constantly and basically every time, but very few people have the time and energy and dedication it takes to go through all the hurdles

Unless all of his NDA's get thrown out, which is looking increasingly likely since they aren't entirely legal.

I thought Mary Trump's NDA would have been airtight, but along with the legally binding stuff like "don't disclose this settlement" he stuck in stuff like "never say anything bad about me as long as you live". I don't pretend to understand the legality of it all, but apparently if one part is impossible to enforce then the whole thing can be tossed.

Subjunctive
Sep 12, 2006

✨sparkle and shine✨

Leon Trotsky 2012 posted:

Why does Bloomberg have an "Opinion" section for their "Finance" reporting?

It’s tremendous content, Leon.

Leon Trotsky 2012
Aug 27, 2009

YOU CAN TRUST ME!*


*Israeli Government-affiliated poster

Subjunctive posted:

It’s tremendous content, Leon.

These aren't quite as obviously wacky as Funko Pop stories, but there are some bonkers theories that Bloomberg is allowing to be printed under their finance section.

The financial opinion pieces are separated out from their editorial and opinion section and are put in the middle of the financial reporting page. You have to click the article and check to see if it even an opinion piece or not.

quote:

The Pandemic Has Upended Asset Allocation Rules

quote:

Asset allocation, like morals or diet, is a sphere where simple edicts often help guide better decision-making.

The goal is to rent out money at the best yield possible while still getting repaid. Pre-pandemic, my starting point was to hold a mix of global stocks, long-duration Treasuries and real estate in roughly equal amounts.

quote:

This allocation assumed stocks, bonds and real estate would outperform cash over time. That assumption is no longer true.

quote:

But a crisis changes things. The Federal Reserve has cut interest rates to near zero and started purchasing more bonds and other financial assets such as exchange-traded funds — moves that may help prevent an economic depression in the U.S. but which also upend some of my basic assumptions. As a result, just like rules change in war, I am adjusting my asset allocation rules.

quote:

What should you do now? The first step is to divest from traditional index funds and blue chip stocks, but where to put your money afterwards?

- More cash. Holding more cash now makes some sense. While this hurts my return, it is also good protection if deflation emerges and real rates — which are those after accounting for inflation — start to rise.

- Gold. This is cash that someone can’t print. Like cash, it doesn’t have a yield; unlike cash, it can be a decent hedge for currency weakness or inflation.

- Long-duration bonds. In the U.S., these yield above 1%. In a crisis, they could fall to close to zero. Given the way bond pricing works, this would equate to roughly a 20% return. While this has less upside than the past, 20% is still something. If inflation picks up, however, these will suffer badly.

- Bank-preferred stocks. After 2008, regulations tightened such that the big U.S. banks became more like regulated utilities

- Infrastructure, such as pipelines. Prices are depressed, and as a result, the yields are quite high. A small portfolio weight, like a small percentage of your total assets, adds a bit of yield and probably a bit of inflation protection.

In a zero-rate world, the trade-off between a return on your money and return of your money has become even more tricky. Given big moves in the stock market, it’s tempting to consider a bigger exposure. But given the long list of known unknowns, I’m sticking with spreading my bets.

Leon Trotsky 2012 fucked around with this message at 03:00 on Aug 22, 2020

Leon Trotsky 2012
Aug 27, 2009

YOU CAN TRUST ME!*


*Israeli Government-affiliated poster
Forums double posted somehow.

Volmarias
Dec 31, 2002

EMAIL... THE INTERNET... SEARCH ENGINES...

Leon Trotsky 2012 posted:

Forums double posted somehow.

A quote so nice you posted twice

Alan Smithee
Jan 4, 2005


A man becomes preeminent, he's expected to have enthusiasms.

Enthusiasms, enthusiasms...
https://www.reddit.com/r/relationship_advice/comments/ie0o8r/i_very_recently_found_out_my_fianc%C3%A9_is_rich_rich/

quote:

I very recently found out my fiancé is rich rich

quote:

As the title suggests I just found out that my fiancé is wealthy and I mean ridiculously so. He proposed to me and then a few days ago he started talking about prenups and I laughed at that saying “broke people don’t have prenups” and he was like “who said I was broke?”

Which then led to him explaining to me that he was “comfortable”.

The problem isn’t that he comes from money,has money it’s that I am angry that I never knew and that he could’ve helped us pay for our dog’s surgery by paying for it but no I had to sell the only thing of worth I had in my life in order to finance our dogs medical bills.

I have literally been providing for us because he’s an aspiring writer and I wanted to help him in his dreams. I pay all the bills and provide for us both.

I don’t get why he hid it?! Like I get him not telling someone they’re wealthy after the first couple dates/months but you’d think after the 4 years we’ve been together and supporting him that I would’ve known!

I’m just trying to make sure that I am not angry for selfish or materialistic reasons. I grew up poor and I am now part of the working poor so my view on money and wealth might be skewed.

I feel like he used me this whole time and that I had to work crazy hours and work a second job occasionally to support us when he could’ve so easily taken care of us both or even just paid his share.

Edit: for those asking he has full access to his inheritance, he’s always had access to it.





SpartanIvy
May 18, 2007
Hair Elf
That guy is such a piece of poo poo. Mooching off your girlfriend/fiance to the point where she's selling her possessions to pay for your dogs surgery, and then demanding she sign a prenup to not recoup any of it. Unbelievable.

SpartanIvy fucked around with this message at 05:44 on Aug 22, 2020

totalnewbie
Nov 13, 2005

I was born and raised in China, lived in Japan, and now hold a US passport.

I am wrong in every way, all the damn time.

Ask me about my tattoos.
Holy poo poo, like I get that at some point, people do end up with enough money that gold diggers might be a real concern but drat, just pretend like you've got wealthy parents that you beg money from occasionally or something.

Alan Smithee
Jan 4, 2005


A man becomes preeminent, he's expected to have enthusiasms.

Enthusiasms, enthusiasms...
"babe I was a poverty tourist, but good news is you passed the gold digger test!"

Krispy Wafer
Jul 26, 2002

I shouted out "Free the exposed 67"
But they stood on my hair and told me I was fat

Grimey Drawer
It kind of sounds like a Hallmark movie, except in that he’s the wealthy heir to Santa Claus and in the end he pulls out a red sack with her violin in it.

Martman
Nov 20, 2006

Honestly if he's setting himself up as that dishonest, I'd wanna see some proof of him actually being that rich.

crazysim
May 23, 2004
I AM SOOOOO GAY
I bet it's one of those fake reddit writercises.

Dik Hz
Feb 22, 2004

Fun with Science

DarkHorse posted:

Some great thread highlights in this one

https://www.youtube.com/watch?v=jg85H26wyLk

Thanks for this. That was a fun watch.

Dik Hz
Feb 22, 2004

Fun with Science

crazysim posted:

I bet it's one of those fake reddit writercises.
Yeah, it reads as fake. Although, most redditors would swap the genders for even more outrage.

Martman
Nov 20, 2006

Now that I read it again, "0.0007999999999999999%" is an amazing (and stupid) way to indicate that fraction of wealth.

Volmarias
Dec 31, 2002

EMAIL... THE INTERNET... SEARCH ENGINES...

Martman posted:

Now that I read it again, "0.0007999999999999999%" is an amazing (and stupid) way to indicate that fraction of wealth.

How else do you indicate that it's an $800 violin and the guy has $1,000,001?

Cassius Belli
May 22, 2010

horny is prohibited

Volmarias posted:

How else do you indicate that it's an $800 violin and the guy has $1,000,001?

If she got her math right, he'd be a hundred times richer than that.

Leon Trotsky 2012
Aug 27, 2009

YOU CAN TRUST ME!*


*Israeli Government-affiliated poster

quote:

I used a family friend to purchase my new home and they insisted on giving the keys to my mom instead of me (not an owner of the home)

I'm in my early 20's and have just bought a comparably very expensive home. I was referred to a family friend, with the promise of a discount and the insistence that they would look out for me in the home buying process more than a realtor who didn't know me or my family.

This was a mistake, as I was patronized in the entire closing process, basically treated like some child. I'm paying for the home with my own savings, salary, and good credit. Nobody else is buying the home for me or with me.

I arrived at closing having been told at the walkthrough the previous night that I would be receiving the keys and proof of ownership at closing. Cool.

I get to closing, signed my papers, I wired my money. Where are my keys?

"Oh no, we're going to give these to -mom's name- later, you can't have these right now." Again, as if I'm some child instead their one and only paying customer in this deal. I get to arguing with the attorney. He doubles down. Realtor doubles down. The entire unspoken message is "Oh you silly girl, why would you think you're getting these keys?" I leave empty handed, humiliated, and crying, after arguing with them about how they owed me my keys and had no right to give them to anyone else.

I ask my mother to head over to the settlement office immediately. They happily give her the keys and the title. To my home. That has my name on it. That I paid for myself. That she has no legal right to. She says she'll give it to me later, as if I need to wait for her convenience to have the keys to the home I spent my life's savings on and am responsible for paying off for the next 30yrs of my life.

I still don't have all of my keys and ownership documents in my possession. The current status is that the Realtor doesn't even have the garage code/opener, and nobody knows what happened to that. It's a detached garage space, so I pretty much just don't have access to that. My mom also said she's keeping one of the zoned parking permits for herself.

I'm so pissed, feel so disrespected and degraded. This is so blatantly negligent and ridiculous. I would love to sue for damages, loss of use of the space for the period between when I closed and when I'm actually able to take full possession of all my property, pain and suffering ideally. I just feel really helpless because I have no idea what recourse I actually have here and how to go about holding the realtor/settlement company accountable for this bullshit.

I'm not a trust fund kid at all, my family is blue collar. I worked really, really hard to be able to buy this place. Like, I worked full time and went to college full time, graduated early at that. Kept pushing on with more school while also holding down a full time salaried managerial government job. Imagine working upwards of 80 hrs a week while also studying for the bar, it sucked so bad. I've literally slept in my office and/or my car a disgusting amount of times, hustling for promotions and side projects, and also trying to get my small business up and going. Working, working, working so that when I have a family someday, they don't have to ever sleep on the floor or bounce from rental to rental. I want my kids someday to have a better childhood than I did, and I always saw homeownership as the way of getting there.

This house was literally my entire life's dream, like, since I was a child. I just wanted a forever home. It's so upsetting that this awesome accomplishment that I'm really proud of is being poo poo on like this. This gotten to be word salad and I'm sorry but I'm just so beside myself upset.

Adbot
ADBOT LOVES YOU

SpartanIvy
May 18, 2007
Hair Elf
That sure sounds like someone switched names on the Deed and she just bought her mom a house. Or at the very least, the "family friend" put her mom's name on the deed as well, so she's a co-owner.

  • 1
  • 2
  • 3
  • 4
  • 5
  • Post
  • Reply