Nicholas Robert Rekieta / Rekieta "Law" / Actually Criminal / @NickRekieta - Polysubstance enthusiast, "Lawtuber" turned Dabbleverse streamer, swinger, "whitebread ass nigga", snuffs animals for fun, visits 🇯🇲 BBC resorts. Legally a cuckold who lost his license to practice law. Wife's bod worth $50. The normies even know.

[Sock Cucker]

Nick and Kayla signed the loan themselves.

As Trustees of the Robert Lord Trust. The Trust owns the property, not Nick and Kayla. Trusts are regulated in some way- my post was to draw attention to the fact that Nick fucked over his own kids, and the powers that be will catch up with him if he doesn't restore the entire amount of the trust.

 

[Not Who You Think]

But wait, there's more. (I missed this.)

Guys, he's getting there. Not defensive at all.
View attachment 6816202
Archive

"Sometimes I make wrong decisions that go against my beliefs and I'm reminded why I had those beliefs."

Sounds like Nick is implying that someone else's beliefs were influencing his decisions so that he can avoid responsibility. As usual, Nick is convinced that his biggest mistake was trusting other people (as if Nick hasn't already proven himself to be dangerously stupid on his own).

 

[AnOminous]

I thought Bam Magera was the worst example but Rekieta with his degenerate lifestyle and financial and legal problems compounding into the worst rock bottom scenarios I seen.

At least Bam Margera actually made his original career out of being a fuckup, like the rest of the Jackass crew, and even Bam has his sober moments where he admits he's fucked up and sincerely regrets it. It's possible to feel some sympathy for him even if you know he's just going to fuck up again.

Sounds like Nick is implying that someone else's beliefs were influencing his decisions so that he can avoid responsibility. As usual, Nick is convinced that his biggest mistake was trusting other people (as if Nick hasn't already proven himself to be dangerously stupid on his own).

"I've made some mistakes, and it's all YOUR fault. REEEEEE!" Eat shit, Nick, you gutless little worm.

As Trustees of the Robert Lord Trust. The Trust owns the property, not Nick and Kayla. Trusts are regulated in some way- my post was to draw attention to the fact that Nick fucked over his own kids, and the powers that be will catch up with him if he doesn't restore the entire amount of the trust.

This isn't the irrevocable trust that the presumably larger trust is. Effectively, and for legal purposes, they have the right to revoke it and disgorge its assets (which are at least and possibly ONLY that house in foreclosure). Since they have the right to do it, they can be court ordered to do it, unlike an irrevocable trust where you don't effectively own it.

So the Robert Lord trust "owns" the property, but ultimately, Nick and Kayla retain the legal power to control that trust.

 

[Watching Rekieta]

As Trustees of the Robert Lord Trust. The Trust owns the property, not Nick and Kayla. Trusts are regulated in some way- my post was to draw attention to the fact that Nick fucked over his own kids, and the powers that be will catch up with him if he doesn't restore the entire amount of the trust.

Yes the trust owns it. Also, Nick and Kayla signed the loan personally. They manage the trust. They are likely beneficiaries of the trust as well. They make all the decisions for their minor children. They gifted their property to the trust. They would have to sue themselves (parents suing the trust on behalf of minor children) to recover anything. Children don't have standing here. There is no authority or "powers that be" with standing to sue them.

 

[Burt Macklin]

At least Bam Margera actually made his original career out of being a fuckup, like the rest of the Jackass crew, and even Bam has his sober moments where he admits he's fucked up and sincerely regrets it. It's possible to feel some sympathy for him even if you know he's just going to fuck up again.

At least Bam Margera was also entertaining and had talent as a skate boarder. Nick is not entertaining and the only talent he's about to have is sucking dick better than Rickety Cricket.

 

[not william stenchever]

Yes. A parole officer could do this and the way to enforce it would be randomly showing up at his cardboard box under the bridge to make him pee in a cup.

"You vill own nothing and you vill be unhappy and you VILL PISS IN THE CUP."

 

[Sock Cucker]

Nick and Kayla signed the loan themselves. Banks don't loan money to entities like that and require cosignatures. Nick and Kayla's credit is fucked for seven years. They defaulted personally. Also they are the ones that received the money.

The kids are minors. They have zero standing to sue their parents over financial decisions. Especially in what amounts to a gift.

I think you are wrong. As beneficiaries of a *registered* Trust, they could file an action against the Trustees for mismanagement. I believe the law does (or would) recognize that Trustees are liable for their actions, and the relationship the Trustees have to the beneficiaries is not legally important.

Also, I don't think a bank issued the mortgage, but an investment firm in Texas...

 

[Melty Butter]

Any nickstorian can tell me if Nick currently has any revenue other than daddy's money?

If you mean Daddy and Mommy's (the big money is the Owens Family Trust), then no, not much anyway.

Two thoughts:

- I'll try to find the stream and timestamp later, but Nick once discussed investment properties (not his 2 homes) that he claimed to own (or partly own) as part of his investment portfolio. They were commercial properties and it was related to a trust, iirc.

- It's impossible to know if he makes an income from Owen's Family Trust. An example of the myriad of ways this can work: I know one person close to me who is one of (initially) thousands of beneficiaries of a trust's investment income. Over the decades, they receive an annual check between $1,200 and $60,000 depending on the market. As other beneficiaries have died, the annual check has increased, but it's still dependent on the market.

The kids are minors. They have zero standing to sue their parents over financial decisions. Especially in what amounts to a gift.

As a practical matter, this is correct. It is very hard to successfully sue a trustee for monies owed.

As a legal matter, I believe you are incorrect. There are many examples of kids, once adults, suing trustees for mismanaging their money. This has happened in some high-profile Hollywood cases.

 

[Vect]

What about alcohol? Wasn't he very proud of the fact he was sipping $200 bottles of whisky?

 

[Kipersonapiscesotter]

As a practical matter, this is correct. It is very hard to successfully sue a trustee for monies owed.

As a legal matter, I believe you are incorrect. There are many examples of kids, once adults, suing trustees for mismanaging their money. This has happened in some high-profile Hollywood cases.

The trust that owns the house doesn't appear to be for the children. Nick and Kayla created the trust for themselves.

There is another trust that pays out, but the terms aren't known.

I don't see how the kids can have standing for the house trust unless they are beneficiaries either before or after it was created.

Happy to be wrong on this. Has anyone info that the children were beneficiaries of the house trust?

What about alcohol? Wasn't he very proud of the fact he was sipping $200 bottles of whisky?

If Nick was sipping whisky it wouldn't be a problem. I have expensive cognac. I just don't drink two bottles a day.

 

[john marston]

With deep introspection, Rekieta addresses foreclosure.

View attachment 6816172
Archive

Hate to say it, he's right. The Balldo Bunker sold and will pay off the majority of the Mortgage. Even if he loses that house, he'll gain enough money from both house sales, minus the mortgage, where he could get into another house pretty easily. He wouldn't be "homeless" longer than a couple of months, in which he could crash at his parent's house while the sale goes through.

It's beyond retarded that he would take out a mortgage on an already-paid for house. He probably had the money considering how much he was making, plus how much he spent on his car and his drugs.

 

[ChadBrazilian]

This makes all the 100 dollars superchat for the overweight pedophile even more pathetic.

 

[SaidNoOneEver]

Hate to say it, he's right. The Balldo Bunker sold and will pay off the majority of the Mortgage. Even if he loses that house, he'll gain enough money from both house sales, minus the mortgage, where he could get into another house pretty easily. He wouldn't be "homeless" longer than a couple of months, in which he could crash at his parent's house while the sale goes through.

It's beyond retarded that he would take out a mortgage on an already-paid for house. He probably had the money considering how much he was making, plus how much he spent on his car and his drugs.

He'll likely keep the primary house after selling the second but that doesn't change the fact that he's lost a full half-million dollar property in this mess on top of his career. So far, that we know of.

 

[Melty Butter]

What about alcohol? Wasn't he very proud of the fact he was sipping $200 bottles of whisky?

In the wake of the foreclosure notice, I took a very rough stab at Nick's spending ITT and factored in Nick's whisky at a whopping $48K over three years.

Meme Copium, who has been somewhat obsessed with the money earned from LawTube streamers for some time, had some critical thoughts about my assumptions (fair) and covered the post in this stream starting at 25:00. He decided my whiskey assumption was approximately correct.

(Amusingly, Meme thinks the assumption of $8K/mo for an upper middle-class family of 7 is too high while Aaron, father of 3, thinks it's too low - he commented on it as well.)

Last night @AltisticRight added another $30K to Nick's tech expenditures that I didn't factor in.

Anyway, safe to say Nick was way overspending.

 

[Vect]

Anyway, safe to say Nick was way overspending.

Overspending? He's probably bankrupting his parents.

All that expensive, top class hardware for a simple on camera stream. Even food! Premium cutting knife, premium marbled beef. He bought the best of everything with no restraint. And this is just the stuff we've seen on camera.

 

[Canard]

Overspending? He's probably bankrupting his parents.

All that expensive, top class hardware for a simple on camera stream. Even food! Premium cutting knife, premium marbled beef. He bought the best of everything with no restraint. And this is just the stuff we've seen on camera.

I think these habits really do explain the 3000 dollar snack budget. Lot of premium stuff and probably insane level of waste as well.

One wonders just how bad habits the kids will have. If Nick seems to still spend money and doesn't appear to have any real income.

Would he even have any real clients he would not brag about?

 

[BrainSand63]

We already knew that Nick and Kayla were terrible parents, but how awful do you have to be to essentially destroy their trust fund too? I just feel so bad for those kids, they didn’t deserve any of this.

 

[Aguas Locas]

How rich are Nick's parents anyway? Because it's starting to sound like maintaining his lifestyle is costing the trust hundreds of thousands of dollars. Were his parents multi-millionaires or something? How swole can that trust be, especially when they have other children besides Nick as well.

At this point it doesn't matter how much money they have since narcisisst are monetary black holes, will try to bleed dry over the most expensive stuff/services and then ask for more.

Considering Nick's almost fubar finances, it makes me wonder how much money he has been syphoning from his parents using the son's violin classes as an excuse. We haven't heard any of his other children activities except the one that sounds the most "expensive", and also how smug his reply is regarding mommy paying for everything (ex. the foreclosure).

Narcissist family members tend to use their sons/partners as excuse to get money (most of the time without the knowledge of said son/partner), then buy expensive shit, just to have the cycle repeat again. While the foreclosure will be avoided, I don't doubt it will strain the parents relationship with Nick, since now they have to dump more than 300k at once just to save his ass keeds.

 

[Gobermental Supervisor]

The "Robert Lord Trust" is not the only trust, this one is Nick's and Kayla's (As Trustees) and it owns the house.
It has nothing to do with trustfund money for the kids or any other stuff.

The BIG trust is still controlled by Nick's parents.

Please stop spinning these wild stories about how "Nick ruined the trustfund for the kids".

The kids will be fine, there is still plenty of money to go around.

 

[But I Digress]

He was just a simple man with a simple dream of building a rape dungeon for his kids. That one little loan, such an innocent beginning could spiral out of control leading to this financial ruin is a wake up call for us all.

Real Joseph Fritzl vibes