FL - Abraham Shakespeare, 42, lottery winner, Polk County, 7 April 2009 #1

[nadjatheresa]

Cedric did the right thing. He hadn't seen his cousin in awhile, couldn't get ahold of him, was concerned for him and reported him missing. Nothing wrong with that. I'm just sorry he took so long in reporting. (As a side note; I know Cedric, as he was my neighbor years ago, and I respect him)

Thank you for this post, cholzsch.

Lake Parker house Edom lives in. Abraham went and talked to him before he left. Cedric knew why his cousin was leaving. I loaned Cedric some money to buy a car which he thought I was taking back on Nov 9, 2009. I had gone and pick up the car to prevent daily storage charges on towing. Cedric got upset with me when I picked up the car. Next thing I know Abraham was reported missing. He kept calling me saying he was not the one that reported him missing. I told him if he was thats filing a false police report and he can be charged with all these man hours. He told me the pastors the one that reported it but the police still say Cedric is the one that reported it.Then he called and said he was sorry. That did not work so he had the pastor of the church ask me to forgive him. I was there the day Abraham went and talked with him. Abraham was riding in my hummer. I did not hear everything Abraham told him but enough to know he understood what was going on and he would not be back for awhile. Abraham said, he even went over there again by himself later on that week. Cedric called the newspaper but they did not print all of his comments. I think they are waiting to check out the validity of his comments. I not going to comment on everything that he told me. I will let the professionals take care of the validity of his comments. I feel since they have not let those comments surface they are doing more research on them. I feel if I comment they will just delete it . Cedric does not have to say he sorry to me if he filed the report. He will have to answer to Abraham. There a lot more details but this is a quick review.

I think it is outrageous to blame and intimidate Cedric for reporting Abraham missing.

Frankly I think Cedric must have had a lot of guts to break away from this loan shark stronghold and go to the police.

If there's a victim here, it's Shakespeare----not DM.

 

[cholzsch]

Also, I don't understand why quitclaim deeds were used in all these transactions, instead of grant deeds or warranty deeds?

Maybe LBM or another resident researcher could explain it to me? Thanks.

Quit Claim deeds are legal and typically used to remove one person's name off a deed. i.e. A divorced spouse will use one to remove their name, or "quit claim" their share of the property back to their ex-spouse per court order.

They are also used to deed property that may have liens or judgments. (One would not want to "Warranty" a deed that may have other claims against it.)

When done properly, a QC deed is just as effective as a WD, but a full title search needs to be done first, as to ensure the Grantor has the right to the property in the first place. For example, I could legally Quit Claim Deed the White House to you. All I would be saying is that I am giving you any interest I have in the WH (even if I have no interest), and it would be perfectly legal.

 

[Boyz_Mum]

Several houses Abraham bought for people were never filed. They went out and got loans with other companies. When Abraham finally filed papers he was considered the second mortgage holder. Those houses are now in foreclosure with the first loan holders. So they will be no money awarded on those houses.
These are not money lawsuits because they don’t have any money left. He just wants them not to be able to do this to other people.
I am getting tired so I will finish this when I get a chance tomorrow.

So these great deals you keep talking about. I just don't see them.... I see court, lawsuits, headaches, and more....

I don't understand the 1st bolded statement, if anyone can help me understand it, I greatly appreciate it. If Abraham bought houses for people, wouldn't Abraham be the 'owner' of the properties? And the "filing" (that wasn't done) mean that it was never 'recorded' that Abraham is the property owner? Because I can't figure out how 'people' could go get loans against property they didn't own in the first place. Or did Abraham just pay off the people's mortgages and leave the properties in their names leaving them free to mortgage the properties again? And if that's the case, wouldn't the bank foreclose on the properties if the people weren't paying these mortgages they had allegedly gotten? If Abraham wasn't the owner of the deed, then how could he quitclaim anything to anyone?

Did Abraham have a business or financial consultant to help guide him in these matters?

The more I try to understand, the more lost I'm getting. Sorry if I'm inconveniencing anyone with my questions. Also, I'm sorry if my questions lead to more confusion, I'm really trying to understand these property ownership situations.

And my 2nd questions are for DM. Why does this property 'stuff' leave you with visions of headaches, court, lawsuits and more if everything was done and documented legally? I understand it would create a strain on you (or anyone) and I'm sure no one likes to go to court, but if everything's on the up and up, there should be no worries?

 

[hoppyfrog]

SNipped by me.


Just wondering if any of the moderators can verify that this has been done. I have not seen this addressed yet, even by the posterd in question, and it has been asked several times over the past few days (by me).

It is ok for Dmoore to be posting.

Thanks,

Hoppy
mod

 

[nadjatheresa]

Quit Claim deeds are legal and typically used to remove one person's name off a deed. i.e. A divorced spouse will use one to remove their name, or "quit claim" their share of the property back to their ex-spouse per court order.

They are also used to deed property that may have liens or judgments. (One would not want to "Warranty" a deed that may have other claims against it.)

When done properly, a QC deed is just as effective as a WD, but a full title search needs to be done first, as to ensure the Grantor has the right to the property in the first place. For example, I could legally Quit Claim Deed the White House to you. All I would be saying is that I am giving you any interest I have in the WH (even if I have no interest), and it would be perfectly legal.

Oh, thank you. So, in other words, the QC deed is only as valid as how it is used after it's issued?

In other words, you can QC your interest in the White House to me, and that is legal, but if I try to profit off your "interest" without validating it, then I would be doing something illegal?

 

[SuziQ]

American Medical - property holdings $878,462 (based on current propery value)
American Medical - cost to acquire $0.00
Abraham Shakespeare & S&A - costs $1,436,947

You can see from the property transactions that none involve the mortgages of friends (I just got this). They are simply real estate transactions passed through Shakespeare and Associates for funding. Nothing more.

Any other mortgages acquired by American Medical (e.g. Abraham's friends) are heresay as not filed with the court; cannot be verified.

The cost to acquire is concerning. Call me silly, but doesn't it usually cost someone to acquire property? How does one go about gaining almost a million dollars worth of property and not have an costs? I'm serious. I really want to know how to do this legally so I can go retire somewhere warm! (it's like 2 degrees this morning)

 

[nadjatheresa]

I don't understand the 1st bolded statement, if anyone can help me understand it, I greatly appreciate it. If Abraham bought houses for people, wouldn't Abraham be the 'owner' of the properties? And the "filing" (that wasn't done) mean that it was never 'recorded' that Abraham is the property owner? Because I can't figure out how 'people' could go get loans against property they didn't own in the first place. Or did Abraham just pay off the people's mortgages and leave the properties in their names leaving them free to mortgage the properties again? And if that's the case, wouldn't the bank foreclose on the properties if the people weren't paying these mortgages they had allegedly gotten? If Abraham wasn't the owner of the deed, then how could he quitclaim anything to anyone?

I don't understand it either, unless by "bought" she means "quit claimed", because if you buy real estate the transaction is registered with the town, etc. But obviously I am not very knowledgeable about all this stuff, myself.

 

[SuziQ]

Oh, thank you. So, in other words, the QC deed is only as valid as how it is used after it's issued?

In other words, you can QC your interest in the White House to me, and that is legal, but if I try to profit off your "interest" without validating it, then I would be doing something illegal?

In many cases it's done without the homeowners knowledge. Then the QC is used by the new interested party to go out and get a loan with no intention of paying the loan back. QC's overstep many of the processes in place to protect sellers in real estate transactions.

 

[nadjatheresa]

In many cases it's done without the homeowners knowledge. Then the QC is used by the new interested party to go out and get a loan with no intention of paying the loan back. QC's overstep many of the processes in place to protect sellers in real estate transactions.

Thanks. I had read that in one of your earlier posts but did not really understand how it would happen until now understanding that the QC is only one person signing over his interest to another.

I still cannot believe---since the abuse of QC seems to be general knowledge---that a lender would issue a loan based on a QC alone! That is crazy, isn't it?

 

[nadjatheresa]

American Medical - property holdings $878,462 (based on current propery value)
American Medical - cost to acquire $0.00
Abraham Shakespeare & S&A - costs $1,436,947

You can see from the property transactions that none involve the mortgages of friends (I just got this). They are simply real estate transactions passed through Shakespeare and Associates for funding. Nothing more.

Any other mortgages acquired by American Medical (e.g. Abraham's friends) are heresay as not filed with the court; cannot be verified.

LBM, could you identify what comprises "cost to acquire" and also Shakespeare's "costs"?

Would "cost to acquire" include closing costs, etc.?

And what was Shakespeare paying?

 

[SuziQ]

Thanks. I had read that in one of your earlier posts but did not really understand how it would happen until now understanding that the QC is only one person signing over his interest to another.

I still cannot believe---since the abuse of QC seems to be general knowledge---that a lender would issue a loan based on a QC alone! That is crazy, isn't it?

This type of fraud is actually epidemic. Usually the nefarious party isn't picky about the lender like you and I would be. They don't care if the loan is a high risk loan that charges 18 percent because they have no intention of paying it back. All these scammers have to do is do public searches and locate elderly people with little to no family members and have a mortgage that is paid off.

Another things these scammers do is QC property back and forth to each other, falsely inflating the property value each time and obtaining more loans. Their payoff is the difference between the old loan payoff and the new loan amount. Eventually the property ends up being mortgaged for an amount far exceeding it's worth.

 

[cholzsch]

Oh, thank you. So, in other words, the QC deed is only as valid as how it is used after it's issued?

In other words, you can QC your interest in the White House to me, and that is legal, but if I try to profit off your "interest" without validating it, then I would be doing something illegal?

No, a QCD is just as valid as any type of deed. It vests the interest of one party to another, without any warranty that the Grantor had a vested interest to begin with.

If you further try to "profit" off your "interest" later on, by issuance of another QCD to someone else, is also perfectly legal, since you are not warranting that you own any real interest in the property.

Simply put:

A QCD transfers interest in property to someone else even if that interest is 0%.

A WD transfers interest in property, and the Grantor warrants against further claims against the property. (He is making a guarantee the he is the rightful owner, and will defend against all other claims).

This is why a title search is so important.

So, once I QCD the WH to you, you could legally sell by QC to a third party for, let's say $100,000. This is a buyer beware situation. The third party should have had a title search done by a reputable title company, and if they did, they would have found out that you own 0%. In other words, they just bought 0% interest in the WH for $100k.

 

[erihum]

Whatever happened to that poster who swore they had seen Abraham in....was it Baltimore?...numerous times over the summer? Hmmmmm, who, in their right mind would go from FL to Baltimore? Ever?

That was me. I typically just lurk here reading what dirt is dug up daily. I will again say that I do believe that it was Abraham and Eddie Dixon that I saw all summer long. Does anyone know if Eddie was in Florida this summer or did he disappear for short/long periods of time? I have not reposted because there is no new news. If I see them again I will call law enforcement or the detectives handling the case.

 

[cholzsch]

LBM, could you identify what comprises "cost to acquire" and also Shakespeare's "costs"?

Would "cost to acquire" include closing costs, etc.?

And what was Shakespeare paying?

I'm also wondering where you got the "cost to acquire" figure. I see (by the doc stamps) that there was a claimed cost at filing.

note: For those that are wondering, in Florida, Doc Stamps are paid when recording records. You state at filing time the amount of consideration (purchase price) and the DS fee is calculated at $0.70 per $100 of consideration. Hence, a $100,000 purchase price would result in a $700 Doc Fee. The Doc Fee is listed in the stamped recording summary on the face of the document.

 

[Dmoore]

Cedric had seen Abraham. You only see what they let you see in the paper. The Sheriff's working this case are very good. Thank God for them because without even knowing half the facts and all the evidence you would have me already convicted for a living breathing man, just because I bought his assets. That's really sad.

I feel sorry for everyone in America that has any kind of a pass at all. I guess that's why there were people that went to prison that did not even commit a crime but charged with it until DNA testing came out. They lost half their life charged with something they did not do. Now I realize how that can happen. No money in the world could give them back the time that was taken from them.

I can’t put up with this much longer if they don't rap up this case. I’m not going to stand for being judge in this manner. I will go see Grady Judd myself. I can't publish half the facts because of the rules of this web site. Just know that any of you making negative comments about me will feel bad when the truth comes out. I need to find him so like I said if anyone is serious about it email me.

 

[cholzsch]

... Thank God for them because without even knowing half the facts and all the evidence you would have me already convicted for a living breathing man, just because I bought his assets.

And you have sound, documented records that you paid for these assets? I mean real evidence, such as canceled checks, copies of cashier's checks, etc.

All of the assignments to your company were for $0 stated consideration. So, you are now stating that there was actually money paid as consideration?

 

[lbminnesota]

Also, I don't understand why quitclaim deeds were used in all these transactions, instead of grant deeds or warranty deeds?

Maybe LBM or another resident researcher could explain it to me? Thanks.

QuitClaims are normally the way family members give property to another in a simple transaction. In a QuitClaim, the property is fully owned (no mortgage) and you are simply handing over the deed to another. There is no title search and documents don't need to be notorized.

 

[lbminnesota]

LBM, could you identify what comprises "cost to acquire" and also Shakespeare's "costs"?

Would "cost to acquire" include closing costs, etc.?

And what was Shakespeare paying?

I didn't get into a filing fees. Cost to acquire = quitclaim deed/given title - no mortgage

For Shakespeare/Shakespeare & Associates = I took the $1,075,000 that he originally paid for his house and then added in value of properties that were passed through Shakespeare & Associates. After leaving Shakespeare & Assoc, these properties were paid for. No outside lenders were involved in any of these transactions.

 

[stilettos]

Cedric had seen Abraham. You only see what they let you see in the paper. The Sheriff's working this case are very good. Thank God for them because without even knowing half the facts and all the evidence you would have me already convicted for a living breathing man, just because I bought his assets. That's really sad.

I feel sorry for everyone in America that has any kind of a pass at all. I guess that's why there were people that went to prison that did not even commit a crime but charged with it until DNA testing came out. They lost half their life charged with something they did not do. Now I realize how that can happen. No money in the world could give them back the time that was taken from them.

I can’t put up with this much longer if they don't rap up this case. I’m not going to stand for being judge in this manner. I will go see Grady Judd myself. I can't publish half the facts because of the rules of this web site. Just know that any of you making negative comments about me will feel bad when the truth comes out. I need to find him so like I said if anyone is serious about it email me.

Please stop worrying about the rules at WS and give the true info on how to reach this man to LE. Along with the last time you have seen him...open your home to LE crime scene techs and offer to pay for the investigation. This would go a long way towards proving your claims of innocence in this matter.

 

[lbminnesota]

I'm also wondering where you got the "cost to acquire" figure. I see (by the doc stamps) that there was a claimed cost at filing.

note: For those that are wondering, in Florida, Doc Stamps are paid when recording records. You state at filing time the amount of consideration (purchase price) and the DS fee is calculated at $0.70 per $1000 of consideration. Hence, a $100,000 purchase price would result in a $700 Doc Fee. The Doc Fee is listed in the stamped recording summary on the face of the document.

Just looked - $10 recording fee of the QuitClaim document. So add in $50 bucks.