Atty Ursula Woods & Atty Monika Johnson, Preston Williams #3

Ask the Experts with Attorney Ursula Woods Attorney Monika Johnson and Realtor Preston Williams with Regency Realty on The Bev Johnson Show on WDIA Radio.

Episode Transcript

(00:00):
Will you make your day? Bye? You you d Hi listens to what

(00:09):
today? You know it's about tofish. Shout show lucky, let's go.
We are rocking and rolling on thisTuesday. It's a hot day in
Memphis, Tennessee, June twenty fifth, twenty twenty four. As we ask
the experts, Attorney Ursula Woods,Attorney Monika Johnson, and Preston Williams from

(00:32):
Regency Realty, ladies and gentlemen,going back to our phone lines to talk
to our listeners. Thank you forwaiting, Prince of the Jolls, pray
my name, pray by name.How you doing a lot? I'm doing
well. How are you, brother, I'm on the top shelf. Thank
you for asking. A good afternoonto you, your callers and to your

(00:54):
guest there. How you go outdoing? We're doing good? Great,
great, hey, Attorney Wood,that will listening to you at some moments
before it just started. I justwant to remind people it didn't hide out
here. Please, so at leastyour precious ones in the car, check
on the elderly if you can,because as hot as a wickens out here,
Bill, I'm talking, it's reallyhot out here. I'm right here

(01:14):
in it but I got plenty ofwater. Some be okay, but make
sure you know you leave no youngchildren or animals in your car. It
don't take for a minute and thenext thing you know, they're gone.
Now hit two, Attorney Woods.How you doing, Attorney Woods. I'm
doing well. I'm doing well.Great. I was up here listening to
you, was talking about rent control. Tennessee doesn't have one, and I

(01:37):
was looking up to see what statesthat have in California and Maryland, New
Jersey, New Orleans and all therest. Why isn't that the state of
Tennessee han proposed rent control? Becauseif you notice a lot of these places,
and I don't have problem with capitalism, but a lot of these places
are charging more for written than youwill pay a house. No more questions.

(02:00):
So I think that one of thereasons why is for the very reason
that you just said. We're freesociety in which we don't put caps on
how much someone can make, andpeople come very frustrated when they're in a
rent control state. But the waythat you can make that difference is begin
to petition your legislature's petition your chairman, and put our politicians to work.

(02:23):
BEV does an amazing job of havingthe top of the best of the best
onto WDA. And so when they'reon the air, call in and ask
them, Hey, these rents inthe memph Tennessee area are getting out of
control. Can we now enter anera in which we at least entertain the
thought of rent controls? By evenopening up and lobbying in that direction,

(02:46):
I believe that that would also scarea lot of landlords to start lowering these
rental race to something that's reasonable andin line will what our individual's income.
You know, what the market canactually demand in our city. So definitely
put begin to call in and writeletters and emails and go to your counselman's

(03:08):
office to discuss rent control. Startthat you be the moment, Okay,
I don't think I want. Mysecond question opposed to you, is that
I know a lot of people inthe city of Memphis who own homes are
still purchasing our homes. They're gettingcards in the mail of people coming up
taking the pictures and they send uppostcard of the house and asking to buy

(03:29):
the house. And what they're askingis pretty much opinions on the dollars.
And I tell people on the Harvey. Do not file for that OPI do.
Sorry, bel I had to useyour word. I don't charge for
it. But I tell people pleasebe careful because if they offer you this
much, your house is probably twomaybe three times that amount what they're offering.

(03:51):
My question, I was going topropose. I know you have heard
that the city council, along withthe sorry mayor that we have in Memphis,
or mayor of Paul Young, andI'm saying that and I'm not taking
it back that they now want tohold try to make a property tax.
And I'm looking at the big picture, Attorney Woods. A lot of people

(04:12):
are not going to be able tomake that type of adjustment because a lot
of them don't make that a money, make that type of money. They
don't fix income. But the cityright now want to add extra money to
property tack. No. My takeis that I tell people that now if
you purchase a home, just becareful because the city had to last say

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so. Even though you might signa contract seeing your house note is one
thousand dollars, okay, But inthree to five years, if they go
before the board and to say weneed a property tack, you're going to
be the first one they hit,and it may go up, it will
go up higher than that. Thatis correct. That is correct. However,
let me see a booklet. However, when you do get your property

(04:56):
taxes raised, Oh yeah, butwhen you do get your property taxes raised,
then you can appeal your property taxes. You can appeal your property taxes,
so you're not just stuck with thetax rate that they give you.
And if I'm not mistaken, andyou know, I know y'all would call
me if I'm not mistaken, theydecided not to raise property taxes. So
if you want to appeal your propertytaxes, then you're gonna just simply go

(05:20):
to the Shelby County Assessor website.Go to the Shelby County Assessor website and
you can appeal it. And thenI want for my individuals who are sixty
five and older. Sixty five orolder, remember you can get tax relief.
Also, if you're disabled, youcan get a disabled veteran you can
also get a tax relief. Andthen if you can get an actual tax

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freeze under certain circumstances, if youare sixty five or older and live in
Shelby County. So I just wantto let people know you do have options.
Uh yes, And the kind ofhit on the point of the letters
in the mail, of the postcardsand the mail and that are offering pennies
on the dollars. Those are investorswho are buying homes in order to purchase

(06:05):
them and rent them out, orpurchase them and flip them and things like
that. There are times to whetherthat's good if your house needs a lot
of major repairs, But I liketo tell people that it's always best in
order to get the highest price onyour home to breed competition. The way
you breed competition is by putting iton the open market and letting the buyers

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bid against each other and decide whatyour property is worth. If you only
are looking at one person, thatone person holds all the leverage, all
the power on how much your houseis valued at. But if you put
it on the open market, that'show you get the best price on the
house and actually get the value ofyour home. Yeah, So I think
that that's just important. I wantpeople to know one last thing, do

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not do not sign, and especiallyto my elders, do not sign just
anything that somebody it in your faceand say in order for me to see
your home, I need for youto sign this document in order for me
to see your home. In orderto order title, I need for you
to sign this document. You needto be clear on what document you're signing.
If at the top it says contract, real estate, contract purchase.

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You need an attorney or either aprofessional or someone who has a license and
someone who can or education to beable to share with you what you're signing,
what you're obligating yourself too. Youcannot just simply rely upon the person
that is calling you. You needto get some independent counsel to be able
to make the best decision for youand your family. Yes, all right,

(07:36):
good questions, Prince and Prince letme say this. I just have
to say it because you said wehave a sorry mayor, Oh well,
let me say this, Prince.I'm gonna say it. Just keep in
mind you just started the job.It's just June. It's just six months.

(08:00):
So I can, I can,I can. I can understand if
you say that in December or nextJanuary. But uh, you just started
the job, man, I hadto say. And the first thing,
and the first thing he does iswant to raise property. Well, well,
well, but look at but butyou have to understand why he wants
to do that. It's some otherthe money, some some things. We

(08:22):
need some money for the city.So think about it, Prince. You
know I hey, hey, prince, you know what you know in the
work In the words of Marvin Gay, two things we know for sure.
Here we go death and taxes exactly. Love your prince, have a good
one. Yeah, you just yeah. We're gonna have taxes. That's the

(08:45):
way of the United States, whetherit's federal taxes, city taxes, state
tax We're gonna have taxes in thiscountry. That's how we survive. Going
back to our phone lines to talkwith you. W d I a high
caller. Hey, how are you? I'm good? How are you?
I'm yeh yes, I'm sixty sevenyears old. And my house finally where

(09:13):
the Lord blessed me and my housegot paid for. And then I had
a flood and it got messed upwhere I had to move out, and
my insurance came in and redid itthrough Uh. I had to beg them
tooth and nail. They didn't doeverything that they should have done, but

(09:33):
they got me a new house andI needed it. But I'm getting letters
from people saying are calls. Theywant to give me nineteen thousand dollars as
he is, and and they wantto know how all your areas and stuff.
But for us senior citizens, wecan get a lot of help to

(09:54):
fix our homes. Up. Igot free air feeding in a one year,
good in a while, and theyand there's also the tax freeze.
Now I don't have to pay thefull amount of taxes. It's just a
small fort. Yes, it's gotto go down. And you know,

(10:18):
get the get the information. Yeah, because Regina tells us every mind about
that. Yes, correct. Butwhen they call me and tell me they'll
gift me nineteen thousand today, I'msixty seven years old. Where am I
going to live? Well? Thatus exactly, you know what? And
I always say this when they callyou, when they call me, I

(10:39):
will give you. I said,Okay, thank you, no, thank
you, hang up, no moreconversation. I don't need because I'm not
going anywhere, right right, I'mnot going anywhere, So thank you?
What? No, thank you?And then but then the next thing is
you have to remember them offering youthat nineteen thousand. You guys, listen,
some people will take a bite onthat because instead of thinking long term,

(11:01):
like this caller is where in theworld am I going to go see
that? What they also you're missingis how much are they paying you?
And is it worth that or more? What are your thoughts? I definitely
would say speak with a realtor.You can always give me a call.
Just text a WDA to nine zeroone two. I mean nine zero one

(11:22):
six two one four or five nineto two. Texts a WDA. I'll
give you a call and you cangive me your property address and I will
make you a CMA and tell youhow much your house is actually worth.
If it's a cold caller who justoffering a nineteen thousand, my odds would
say that that your house is worthat least double, if not a triple

(11:48):
of that amount. And that's howmuch you it's actually worth. And they're
wanting to get it at penny onthe pennies on the dollar. And in
my neighborhood I'm living in Fraser,they are buying up property. He's drafting
rights and mixing them up and rimmthem out. Take this high dollar rent.
And oh, I want to askyou guys about that home warranty I

(12:11):
would like to get that. Youcould get the high get the best one
so it can take care of yoursomething something happened. Yeah, there's a
couple of different companies who offer them. There's American Home Shield, a Choice
home warranty, and a couple ofothers. I personally, on my personal
house, I have a Choice homewarranty and it's been being a pretty great

(12:37):
Give me, give me a textor calling our uh uh make you an
outline of different home warranties and helpyou you find one that fits you.
Okay, I sure will because Iwant to get that. I said,
they redid my house and everything's goneup, but I want to have it
just in case something happens. ButI'm gonna tell you what I do.

(12:58):
I'm gonna ge yes, ma'am.They offered me nineteen thousand. You know
what I tell them? What I'lltake one hundred and fifty thousand. That's
what you tell them, that's right, right, That's what I tell them.
Get back with me, right.Thank you for listening, and thank
you for calling. Okay, byebye. Let me go to this email

(13:22):
because I know my emailer is listening. Here is the question, and it
may be for attorney Monika, butI don't know you all can chime in.
It may be for pressing as well. And this says I have been
separated from my spouse for about twoyears. I moved out of our home
and left her with the house paidin full. I purchased another home in

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which I live, as well aspurchase several other investment properties. Now she
has filed for divorce and wants tosplit all of the property. She can
have the house that she's in,but is she entitled to my investment properties
that were purchased after we separated.I hope this is enough info to answer

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the question Charles. I am definitelygoing to say that Charles is going to
need a family law attorney number onebecause there is going to have to be
a determination with regard to what isconsidered marital assets versus your individual assets.

(14:33):
And unfortunately, in the state ofTennessee, just about anything that you purchased
within the marriage can become a maritalasset. He did not indicate that those
investment properties were purchased in his company'sname, perhaps or an LLC. And

(14:54):
even if he's a single member LLCor a single you know, owner of
his company, the spouse may havesome interest in that as well, you
know, and so it is goingto be very important that he speak with
a trained professional regarding his assets andjust know that he may have some level

(15:18):
of responsibility there. So you're alsosaying, Attorney Monika, that that the
wife may be able to get someof that investment property. That may be.
Yes, I am saying that becauseit could be considered a marital asset
now without even they've been separated.Even if they've been separation means nothing.

(15:39):
You're married until you're not married,period, married legally. I have had
situations where parties have been separated fortwenty years. Yeah, you know that
got another man living in the house. They've been separated for twenty years.
But when that wife passes away andhusband shows up, he's been gone twenty

(16:03):
years. Yes, he has someinheritance rights in that home. He's sure
that you need to know that.Yes, married, being married is a
legal entity in the state of Tennessee, and it is recognized. So,
yes, when you're married and you'renot divorced, and you're purchasing assets,
even if you're purchasing them just inyour name, you're gonna say, oh,

(16:26):
but I didn't put my wife's nameon it, it doesn't matter.
It can be and more likely willbe considered a marital asset. So you
need to do Number one. Youneed to talk to a family lawyer.
And just so I'll let you allknow, and this is a shameless plug,
Bev, we do handle uncontested divorces, Okay, what does that mean?

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That means that both the husband andwife agree on how they're going to
separate all the marital assets, andthey agree that they are divorcing based on
irreconcilable differences. We're not going to, you know, do fault or consider
blame in that case. But ifyou have what we consider, you know,

(17:14):
uncontested and you can agree to allthe terms, we will sit down
and assist you with that. Butin his situation, it sounds like it
may be contested or he and shemay negotiate some settlement agreement, and if
they come to a settlement agreement withregard to the property, we're happy to
help them. And then the lastthing I'm gonna say, Bev about that.

(17:36):
This is also another reason why it'simportant to get your estate plans set
up, okay, because if anythinghad happened to a husband if he had
passed away, you know, andhe's purchased all of these properties, if
he had a last will and testament, there is a way that he can

(17:59):
dis in it his wife to acertain extent, so he could leave all
of those investment properties, for example, to his children and perhaps just share
the merit a home with his wife. But that would be the importance of
setting up an estate plan early,so that you can plan out how that
will happen in the event of yourAnd I like to say, you know,

(18:23):
especially in the event of your divorce. But I like to set some
things up also, like powers ofattorneys that are set up in the event
of divorce, right so that youcan if you divorce, then spouse no
longer has all of that authority tohandle your affairs. But again, marriage
is a legal entity, and becauseof that, you need to take it,

(18:47):
you know, very seriously and notlightly. And you need to understand
what you're getting yourself into. Ilove it, I love it. I
love it too. We are goingto take a break and come back.
I turn to earth. You seehow turning Monica stepped up. He said,
I say you are married, forgetthat forget that. I love it.
Good information we are sharing today aswe ask the experts on dou W

(19:15):
d i A. We're asking theexperts on the Bev Johnson Show. Only
on w d i A. You'relistening to the Bev Johnson Show. Here's

(20:07):
Bev Johnson and we've been asking theexpert to with Preston Williams, Attorney Monika
Johnson, and Attorney Ursula will it'sattorney Ursula. Hello, everybody, thank
you for giving us this time ontoday. I really want everybody to just
kind of close out with knowing whomy guests are. To my left in

(20:30):
your ear is mister Preston Williams.Preston, what are your final words to
our lovely listeners. Yes, Ijust want to leave you guys with a
little bit of a home buying tipand a thing that I see come up
all the time that I like tohave this same conversation with my buyers.
And it's important to know what yourmax budget is. Do not depend on

(20:51):
the lender to set your max budget. When you go to get pre approved
for a home. The lender isgoing to come back with your purchase is
power and that may have a numberon there three hundred one thousand dollars is
how much they will approve you tobuy for a house. But you also
need to know that you one,you do not have to buy a home

(21:15):
at that full price. It's okayto go down in price. It's okay.
If you can find what you wantat a lower price, then it's
okay. You don't have to buythe biggest, grandest house that has ever
been made. You can find allyour needs at a lower price. The
second thing is that lender is onlylooking at your bills that show on your

(21:37):
credit. They do not know everythingthat you lifestyle wise spend money on.
They do not look at daycare,your cell phone bill, They do not
not look at the fact that onweekends or you go to brunch and spend
spend one hundred and fifty dollars everyweekend on mimosas. They don't look at
those facts. And it's important thatyou keep in mind or that they give

(22:02):
mama one hundred dollars every week,I mean every month because she needs some
additional assistance. And Mama is notgoing to want you to stop helping her
because you bound how she needs yourhelp with you. Oh lord, well,
but you want to keep that inmind of your lifestyle, and you
want to give your lender the amountthat you are comfortable paying in total,

(22:26):
and the lender will work up numbersas far as that amount. That way,
you will have have your budget asfar as how much your purchasing power
is, and your budget as faras your lifestyle. Those are not always
the same, because you do notwant to be house broke. Housebroke means
that all your money is going towardpaying your mortgage and you're not able to

(22:48):
do lifestyle things like go out oftown and travel, go out to eat,
go bowling, go and shopping,go spend money. You want to
make sure that that you can keepingthat budget in mind and everything, and
that way you're able to buy ahouse the smart way and still live your
life at the end of the day. All right, well, who should

(23:12):
that? Would you give him yournumber? Pressing text that wd I a
monique and I are over here alittle jealous, but I love it,
guys, because when you all textthis number that he's about to share with
you, he's not just he canlet me back up. Presston came to
WDIA prepared for wd I A listeners. The best thing that he has done.

(23:32):
And the first guest I've ever invitedon via Beth is somebody who is
giving you something. So when youtext him, he's gonna give you a
free god if you want to buyor sell your home. So don't just
listen to these talking heads that areon YouTube right now, you have the
opportunity to speak with a subject matterexpert. So he's about to give you
this number. He's gonna give afree gift to you when you text the

(23:55):
letter's wd I A what number isthat? Yes, you want to text
wd IA to nine zero one sixtwo one four five nine to two,
and once you do, you willget a text message back that includes a
download link for a buyer's guide anda seller's guide, and whichever one applies

(24:18):
to you, download it and lookover it and read it and scan through
it. It will help you prepat a buy a home or sell a
home in the future. You willalso get a link to a consultation link
if you do want to have acall with me and just talk over things.
If you're looking to buy a housenow or sell a house now or
maybe in a year on down theline or two lines, or you just
have a lot of questions, booka consultation on there. I will put

(24:42):
out out half hour of my dayand give you a call and we'll talk
over things. It could be inperson or virtual, whichever one is easier
with you. But text that number. It's nine zero one six two one
four five nine two, and textWDA to it and you'll get those links

(25:04):
delivered right over to you. Okay, good job, Attorney Johnson. Well,
I'd just like to say thank youagain Bev for the opportunity to be
here. If there is anyone underthe sound of my voice, based on
our constant preaching, and you arenow interested in setting up your own estate

(25:27):
plan by getting either a will ora trust, we do offer a BEV
Johnson special and so if you areinterested and you text Bev Johnson to this
number, we will get you startedon creating your estate plan. Text Bev

(25:47):
Johnson to nine zero one three twofive zero six zero zero. That's text
BEV Johnson to nine zero one threetwo five zero six zero zero, and
we will send out our estate planningworksheet and we will get you started on
creating your estate plan. Sounds good. I want to wrap up and just

(26:12):
say you may not understand everything that'sgoing on in your life right now.
But I encourage everyone to keep yourhead high, know that God is working
on your life, keep being beautiful, keep doing the right thing, keep
knowing that in the end, thingswill turn out in your favor. The
reason why I know that is becauseyou have survived one hundred percent of the

(26:33):
things that you have gone through.Greater is the one who is in you
than anyone who can be against you. No matter what's going on around you.
Today, you can put your shouldersback, put a smile on your
face because things are working out inyour favor. If you're facing an eviction,
a foreclosure, a repossession of garnishmentwith bankruptcy, please consider giving me

(26:56):
a call Attorney Ursula Woods at ninezero one five four to one. Help.
That's nine zero one five four onefour three five seven And as always,
asked for the Bell Johnson Special andyou guys got the text messages and
thanks to you bev Oh. Shoutout to Beverly Hider if anybody knows Beverly

(27:17):
Hider, Happy birthday. If youdon't mind just telling Beverly Hider happy birthday
and happy birthday to THEA to oneof my friends, my Auntie vows best
friend THEA, so happy birthday toTHEA and happy birthday to Beverly Hyder.
And then last was certainly not leasta friend of the show who has been

(27:38):
on Happy Birthday to John Corn's whooyeah and happy birthday. I got a
text to Pastor bartholog Or his birthday, and that from Lady D and JT.
Happy birthday, Pastor or Pastor orhappy birthday. I attend your church
frequently. Attorney Ursula Woods, thankyou, Thank you, Attorney Earth the

(28:00):
Words, Attorney Monika Johnson and PrestonWilliams from Regency Realty. Good work,
y'all, good work, Thank you, thank you, thank you, thank
you, callers, thank you listenersfor joining us this day on the BEV
Johnson Show. We do, wereally do appreciate you. So until tomorrow,
please be safe, keep a coolhead, y'all, don't let anyone

(28:26):
steal your joy. Until tomorrow,I'm Bev Johnson, and y'all keep the
faith. The views and opinions discussedon The BEV Johnson Show are that of
the hosts and callers and not thoseof the staff and sponsors of wt I
A. I'm gonna have you knowwhat? MONTHA says June. Somebody said

(28:56):
June Black Music Month, Black MusicUS. Ten seventy WDA celebrates black music
mind steal Away Wade in the Water. In eighteen sixty six, Fisk answered
the call of liberal arts education forone and all. Five years later,
the finances weren't strong, so studentstraveled and shared spiritual songs. The Fisk

(29:18):
Jubilee Singers moved many a heart,raising the funds to give the school a
fresh start. Their voices, builta building and bought the land. As
a proud fisc alumna on their shoulders, I stand. I'm Candae Obadina from
Ataro Fine Arts Foundation with your BlackMusic Muff Moment celebrating our rich musical history

(29:47):
on ten seventy WDIA Life Hack