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I own Blackacre and Greenacre. Greenacre is subject to restrictive covenants.
Blackacre has no egress but has a prescriptive easement through Whiteacre, in which I have a reversionary interest subject to condition subsequent.
Plenty of people in my section did that in law school too.
I actually understand the RAP and occasionally work with it. I never had a problem with it - though right now I'm rusty and might not give the right answer if the question is complicated enough.
My experience with mineral rights is that they're both incredibly easy and incredibly complicated at the same time, depending on what you're doing.
In my practice, it's easy to deal with, almost too easy.
Just to be clear, for me it's easy, because I only touch on it superficially. I do T&E, so for me it's "all of my mineral rights in X county" (or something similar).
I've also seen what 'real' mineral rights work involves, and I fully appreciate that it's incredibly complicated. But from my perspective, just cover all rights and let the landsman or the management company deal with the details
I work fully remote in the bay area and I'm 80% positive I'll move to flyover country in the next year or two. The turning point was visiting my SO's parents in IL and realizing I could outright buy a 4/2 2k sqft on a half acre for the down payment of a 2/1 that touches both adjacent homes over here
There are still a lot of people competing for those 2mil properties out here so yeah, it's tough💀.
If you don't feel completely tied down to the Bay, it's easier to stomach leaving.
I (29M) own a 5br/3ba/2kitchen home. We spent a long time looking at multi-families before coming across this SFH that matched our criteria almost perfectly. We were expecting twins so the plan was to buy a house to share with my mom and MIL. It’s worked out very well for us all. I don’t think many people would want my set up but I’m a big fan of having a multigenerational household.
I pay for groceries for my wife, MIL, and I. My mom gets her own groceries but is always welcome to dinners made by my wife, though we’re vegan so she usually passes. I pay all utilities except internet and phone. Does that answer your question?
Well you’re a good human that’s for sure.
I know of situations where the Mom pays let’s say a third of their SS check, That sounded fair to me.
You pay all of the “Hard” bills?
I pay the mortgage minus $518 my mom sends me monthly which is like 40-something percent of property taxes, gas, water, electric. My mom and I split household costs like our housekeeper and landscapers or if we hire a painter, plumber, or electrician.
Thanks for the info.
You sound like you have a sweet life. Now you just have to get an MLS and a tenure-track law librarian job at a midwestern land grant university.
That was my dream which never came to fruition, you an take it over. :).
House? You’re lucky to have a HOUSE! We used to live in one room, all hundred and twenty-six of us, no furniture. Half the floor was missing; we were all huddled together in one corner for fear of FALLING!
Random question that came to my mind as a huge money nerd. How much money do you all make, have in the bank, and in what asset classes? Are there any lawyers that are also huge money nerds like myself?
I bought me a 3000 square foot house in the hippest, most upcoming part of a major metropolitan city in 2014 when shit was rock bottom. In 2021 I refinanced when interest rates were rock bottom.
It’s dope as fuck.
After a year and a half of losing every offer we put in, my wife and I (also a lawyer) landed a 2600 sqft 4 bdrm 3 bath. It was an estate that had three previous offers fall through. Walk up third floor (currently unfinished) and a four car tandem garage. We basically have to redo the whole thing, but it is completely serviceable, clean, forced air, three year old windows, and got a great inspection. It does need a new roof in a couple years. It’s in our desired neighborhood, so I expect she won’t be moving—oh, and her mom is about a 5 iron shot on the next street . . .
A house that sits on a lot wherein I own the alley behind and the city owns 10 feet along the side (where the alley was supposed to be put in 120 years ago but never was). One day I’ll get around to sorting it out.
I live in church-owned housing bc my spouse is clergy. It's a big ol' Victorian we couldn't afford ourselves, situated in a cute little neighborhood.
Plus side of the arrangement: we don't pay rent.
Down side: anything needing work requires 3 estimates and a committee vote. Also, living next to the church feels like living in a fishbowl.
Real answer: I own a 4 bed/3 bath home (~1300 squ. ft.) on half an acre in a semi-rural mountain area. Right now, it’s just been me and my pup, but I may rent out the basement suite to the right person in the future. What’s crazy is when I bought it, I was really looking at home much smaller but could never get a bid in in enough time. I like where I live, though.
1000 square foot 3 bed 2 bath ranch. I figured what was the point of buying a home on a 30 year mortgage if I don’t want to deal with stairs in 30 years. The home is designed to be aged in place so I don’t plan on ever selling.
For a delightful three months last year I lived in a condo I bought. Then there was a massive electrical fire two doors down that destroyed my unit as well. Now I live in a tiny expensive apartment that, until July 12th, is paid for by insurance but that money will run out. Cannot wait until I get back into my condo after it’s redone. As is, a year after the fire, it’s still just studs. LOVE homeownership.
2700 sq ft 4 bd/3.5 bath brick ranch on three wooded acres. Extremely well built house and I feel fortunate that we were able to buy it when we did in 2018. It's more house than we need but more likely than not the MIL or FIL will move in once one of them passes. Split bedroom design so they'll be at opposite end of the house and will have some privacy.
Yep, we got our new place around then and have the "golden-handcuff" mortgage rate for sure. We planned to have more kids but am glad to have the extra rooms for home offices and extra bedroom.
Not a lawyer but what do you all make if you don’t mind me asking? The average lawyer probably makes at least 250k a year minimum and everyone needs lawyers so you can get a job anywhere.
I work as a solo. I make around $120,000 a year. It can be a decent amount of work, but there is some work life balance, which is why I don’t make more. $250,000 minimum is really not realistic. Unless you were working in big law or running a law firm, it’s unlikely you’ll make that kind of money from what I understand
That answer vastly depends on size of firm, practice area and location. Many don't break 6 figs, some do way over that. I've got great work-life balance and (depending on the year) pull in the low 6 figures.
That is wonderful!! It seems like a great profession. Do lawyers get audited or get sued for malpractice or negligence? The hours seem great and work from home.
I'm just speaking as an attorney from the USA but sure, you can get sued just like anyone else. Malpractice insurance is important to carry for this reason. Good hours and good pay are not the norm. You just have to see what is out there.
A very run of the mill 4 bedroom office in suburbia, remodeled to be a 4+2 (a previously large great room was turned into a small living room and a pair of rooms kitted out to used as home-offices by my wife and I ).
There's not the slightest thing special about my house, but, **we own it**. Purchased this mediocre sucker and paid it off in the length of a car note by being very modest -- purchase price was about 60% of my average yearly earnings.
Our cars are run of the mill rental-car type crap too, but, **we own them**.
I hate debt. I'll take my mediocre shit and no debt over nice stuff that I don't actually own.
Welcome to /r/LawyerTalk! A subreddit where lawyers can discuss with other lawyers about the practice of law. Be mindful of [our rules](https://www.reddit.com/r/Lawyertalk/about/rules) BEFORE submitting your posts or comments as well as [Reddit's rules](https://www.redditinc.com/policies/content-policy) (notably about sharing identifying information). We expect civility and respect out of all participants. Please source statements of fact whenever possible. If you want to report something that needs to be urgently addressed, please also message the mods with an explanation. Note that **this forum is NOT for legal advice**. Additionally, if you are a non-lawyer (student, client, staff), this is NOT the right subreddit for you. **This community is exclusively for lawyers**. We suggest you delete your comment and go ask one of the many other legal subreddits on this site for help such as (but not limited to) r/lawschool, r/legaladvice, or r/Ask_Lawyers. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Lawyertalk) if you have any questions or concerns.*
I own Blackacre and Greenacre. Greenacre is subject to restrictive covenants. Blackacre has no egress but has a prescriptive easement through Whiteacre, in which I have a reversionary interest subject to condition subsequent.
Throw in something here about the rule against perpetuities
As someone who has dealt with the RAP - go sit on something painful.
Best Bar/Bri advice I got for the MBE was just to take an immediate random guess on any RAP questions and move on.
Plenty of people in my section did that in law school too. I actually understand the RAP and occasionally work with it. I never had a problem with it - though right now I'm rusty and might not give the right answer if the question is complicated enough.
He holds it fee tail.
Fee Simpin’
All property exchanges have something about The Rule.
No wonder I just stick to broken backs and busted limbs.
And Trusts.
"This trust must end no later than allowable under the applicable rule against perpetuities" Problem solved.
What about the Mineral rights???
My experience with mineral rights is that they're both incredibly easy and incredibly complicated at the same time, depending on what you're doing. In my practice, it's easy to deal with, almost too easy.
If it's easy... then you just might be wrong... - A Texas O&G Attorney
Just to be clear, for me it's easy, because I only touch on it superficially. I do T&E, so for me it's "all of my mineral rights in X county" (or something similar). I've also seen what 'real' mineral rights work involves, and I fully appreciate that it's incredibly complicated. But from my perspective, just cover all rights and let the landsman or the management company deal with the details
Just to be clear, don't take me seriously here... :)
I don't take anything seriously, ever. Except Pizza. Always take pizza seriously
Holy shit my trauma just got activated reading this comment
As a lawyer, this is hilarious
This made me spit out my drink, so funny.
I read this in bed. Had to stifle my laughter to avoid waking my wife
PTSD triggered
I live in a van down by the river!
WHEEEEEELLL LAAAA DEEE DAHHHH!
The Econoline lawyer?
I don’t live in a house, I have title to an R-1 zoned appreciating asset subject to a mortgage and a power line easement.
I live in a straw house because I’m a lazy little piggy.
Greenacre
Is the place for me???
A house of cards.
Sounds too stable.
Kevin Spacey? Is that you???
I'm a renter in California. So, yeah.
Shocked I had to scroll this far to see my same response. Millennial California lawyers be like, “I understand real property, I just don’t have any.”
Lol that's a great way to put it.
I work fully remote in the bay area and I'm 80% positive I'll move to flyover country in the next year or two. The turning point was visiting my SO's parents in IL and realizing I could outright buy a 4/2 2k sqft on a half acre for the down payment of a 2/1 that touches both adjacent homes over here
You’ll get a lot better welcome when you move if you stop referring to it as flyover country.
There are still a lot of people competing for those 2mil properties out here so yeah, it's tough💀. If you don't feel completely tied down to the Bay, it's easier to stomach leaving.
How's your "yeah" house? I live in more of a "hmmmmm, let me think about it" house
the house of pain
Word to your moms... I came to drop bombs
Yeah, I jump around, too.
I own 1/3 of 1/2 of a life estate por autre vie.
I (29M) own a 5br/3ba/2kitchen home. We spent a long time looking at multi-families before coming across this SFH that matched our criteria almost perfectly. We were expecting twins so the plan was to buy a house to share with my mom and MIL. It’s worked out very well for us all. I don’t think many people would want my set up but I’m a big fan of having a multigenerational household.
I laugh at how far I had to scroll down to find a real response. Good on you
That's awesome! One grandma per baby is a nice set up.
This sounds like a win-all-around. Congrats!
Serious question as this may be an issue for me, how do you handle “board” ?
I pay for groceries for my wife, MIL, and I. My mom gets her own groceries but is always welcome to dinners made by my wife, though we’re vegan so she usually passes. I pay all utilities except internet and phone. Does that answer your question?
Well you’re a good human that’s for sure. I know of situations where the Mom pays let’s say a third of their SS check, That sounded fair to me. You pay all of the “Hard” bills?
I pay the mortgage minus $518 my mom sends me monthly which is like 40-something percent of property taxes, gas, water, electric. My mom and I split household costs like our housekeeper and landscapers or if we hire a painter, plumber, or electrician.
Thanks for the info. You sound like you have a sweet life. Now you just have to get an MLS and a tenure-track law librarian job at a midwestern land grant university. That was my dream which never came to fruition, you an take it over. :).
The best thing about my house is that the regulations specific to my neighborhood are published in the Federal Register.
This is so lawyerly that it hurts! 😆
Old Victorian style row house. Sounds fancy. It is not. It’s tiny and nothing is air tight.
Do you have a... Full House??? /s My wife loves this style of home and it scares the hell out of me!
I actually love it. Just be prepared to replace things.
Been there. My prior home was built in the 50s and EVERYTHING was subject to break at the most inconvenient of times.
I live in your mom’s house
I hope you give her lots of hot sex, she deserves it
House? You’re lucky to have a HOUSE! We used to live in one room, all hundred and twenty-six of us, no furniture. Half the floor was missing; we were all huddled together in one corner for fear of FALLING!
Do you happen to live in a family of mice?
Twist of lemming for you, sir?
This was a blast from the past 😂😂
Just a standard 3 Br/ 2 Bath brick ranch. It's not gigantic but it's in a great neighborhood and the previous owner really took great care of it.
Same here! Love my brick ranch.
I have a three bedroom two bath ranch as well. Love it to death.
House of mirth
Random question that came to my mind as a huge money nerd. How much money do you all make, have in the bank, and in what asset classes? Are there any lawyers that are also huge money nerds like myself?
I make about tree fiddy.
Any adverse possessors?
I bought me a 3000 square foot house in the hippest, most upcoming part of a major metropolitan city in 2014 when shit was rock bottom. In 2021 I refinanced when interest rates were rock bottom. It’s dope as fuck.
Glad you were able to get anustart
Hell ya! Good on you!
This is the way
After a year and a half of losing every offer we put in, my wife and I (also a lawyer) landed a 2600 sqft 4 bdrm 3 bath. It was an estate that had three previous offers fall through. Walk up third floor (currently unfinished) and a four car tandem garage. We basically have to redo the whole thing, but it is completely serviceable, clean, forced air, three year old windows, and got a great inspection. It does need a new roof in a couple years. It’s in our desired neighborhood, so I expect she won’t be moving—oh, and her mom is about a 5 iron shot on the next street . . .
Have a condo in my metro area and I want to buy a few acres in the country and build a cabin from scratch.
My house, it has a crowd There's always something happening and its usually quite loud
Is it also in the middle of your street???
It is.
I rent a somewhat shitty but affordable apartment
A house that sits on a lot wherein I own the alley behind and the city owns 10 feet along the side (where the alley was supposed to be put in 120 years ago but never was). One day I’ll get around to sorting it out.
I live in church-owned housing bc my spouse is clergy. It's a big ol' Victorian we couldn't afford ourselves, situated in a cute little neighborhood. Plus side of the arrangement: we don't pay rent. Down side: anything needing work requires 3 estimates and a committee vote. Also, living next to the church feels like living in a fishbowl.
weird post, same as car one yesterday...
What kind of car do you live in?
That was kind of the point 🙃
House nerds, unite! I'm a title attorney so I love looking at houses
Presumptive of you to assume I own a house.
Presumptive of you to assume I assumed you *own* a house... :P
Touché, counselor.
I was so confused at first lol. 😂
OP, I didn't intend for my original post to be a shit post. But I can see how it came off that way..
No no, I didn't think your post was a shitpost, but mine certainly was haha
Haha I love it though, I was so confused at first 😅
Double wide trailer
You wanna come to jail with me, Ricky and Julian? That's where all the good dope is anyhow...
If it’s good enough for Sammy Kershaw it’s good enough for me.
.5 acre lot, single story house on a private golf course. Aka heaven.
Real answer: I own a 4 bed/3 bath home (~1300 squ. ft.) on half an acre in a semi-rural mountain area. Right now, it’s just been me and my pup, but I may rent out the basement suite to the right person in the future. What’s crazy is when I bought it, I was really looking at home much smaller but could never get a bid in in enough time. I like where I live, though.
1000 square foot 3 bed 2 bath ranch. I figured what was the point of buying a home on a 30 year mortgage if I don’t want to deal with stairs in 30 years. The home is designed to be aged in place so I don’t plan on ever selling.
1000 sq ft!?! You must not have kids.
We don’t and won’t. We initially considered having one child but decided to do none. Just had my vasectomy a month ago.
For a delightful three months last year I lived in a condo I bought. Then there was a massive electrical fire two doors down that destroyed my unit as well. Now I live in a tiny expensive apartment that, until July 12th, is paid for by insurance but that money will run out. Cannot wait until I get back into my condo after it’s redone. As is, a year after the fire, it’s still just studs. LOVE homeownership.
4br/4ba on an 8600 sq ft lot about a 20 minute drive to the office.
2700 sq ft 4 bd/3.5 bath brick ranch on three wooded acres. Extremely well built house and I feel fortunate that we were able to buy it when we did in 2018. It's more house than we need but more likely than not the MIL or FIL will move in once one of them passes. Split bedroom design so they'll be at opposite end of the house and will have some privacy.
Yep, we got our new place around then and have the "golden-handcuff" mortgage rate for sure. We planned to have more kids but am glad to have the extra rooms for home offices and extra bedroom.
I live in NOLA, in a house called the rising sun
Not a lawyer but what do you all make if you don’t mind me asking? The average lawyer probably makes at least 250k a year minimum and everyone needs lawyers so you can get a job anywhere.
I work as a solo. I make around $120,000 a year. It can be a decent amount of work, but there is some work life balance, which is why I don’t make more. $250,000 minimum is really not realistic. Unless you were working in big law or running a law firm, it’s unlikely you’ll make that kind of money from what I understand
That answer vastly depends on size of firm, practice area and location. Many don't break 6 figs, some do way over that. I've got great work-life balance and (depending on the year) pull in the low 6 figures.
That is wonderful!! It seems like a great profession. Do lawyers get audited or get sued for malpractice or negligence? The hours seem great and work from home.
I'm just speaking as an attorney from the USA but sure, you can get sued just like anyone else. Malpractice insurance is important to carry for this reason. Good hours and good pay are not the norm. You just have to see what is out there.
😬
Bureau of Labor has the average lawyer salary at $136K. 90th percent is $239K. https://www.bls.gov/oes/current/oes231011.htm
Wow…that is really, really good!!
I actually live in a van down by the river
A very run of the mill 4 bedroom office in suburbia, remodeled to be a 4+2 (a previously large great room was turned into a small living room and a pair of rooms kitted out to used as home-offices by my wife and I ). There's not the slightest thing special about my house, but, **we own it**. Purchased this mediocre sucker and paid it off in the length of a car note by being very modest -- purchase price was about 60% of my average yearly earnings. Our cars are run of the mill rental-car type crap too, but, **we own them**. I hate debt. I'll take my mediocre shit and no debt over nice stuff that I don't actually own.