Mobile homes and traditional site-built homes differ significantly in both their physical characteristics and legal aspects. An essential element to keep in mind for any property is establishing ownership proof.
WHAT IS A PROPERTY TITLE?
The terminology used in real estate can seem like a foreign language to many. When you're looking to buy or sell property, one key term to understand is the title.
Simply put, a title represents a set of rights associated with a piece of property. These rights can belong exclusively to one owner or entity, or they can be shared among several parties.
For most real estate transactions, the term "title" signifies ownership of the property. This implies that the owner has the right to use the property, access the land, and make any desired modifications. Additionally, it grants the owner the ability to transfer their share or interest in the property to others.
WHAT DOES A MOBILE HOME TITLE LOOK LIKE?
Many people confuse the title and the deed. But these two terms actually refer to different concepts. The deed is the actual legal document that transfer the title from on person to another. You will need the help of a lawyer or legal advisor to compile this.
DO MOBILE HOMES/MANUFACTURED HAVE TITLES?
Yes, mobile homes, also known as manufactured homes, typically have titles in most states.
However, the legal distinctions between mobile homes and site-built homes affect how they're handled legally.
For instance, traditional homes are permanently attached to their lots, whereas mobile homes can be moved, meaning the ownership of the land and the home itself are often separate.
Additionally, each section of a mobile home may have its own title document. So, a single-wide home would require one title, while a double-wide would need two.
Overall, the legal framework for manufactured homes more closely resembles that of motor vehicles.
A mobile home title needs to be issued by the motor vehicle department in the state in which it resides. These documents will cover critical information about your mobile home like the following:
Serial numbers
Home’s vehicle identification number
The make
Model
Year built
Name of the existing owner as well as the previous owner
Description of the property
All conditions that restrict the use or the sale of the property
Lien holder’s info and much more
WHY DOES THIS MATTER
Understanding the significance of titles for mobile homes is crucial. This knowledge helps you grasp how ownership is transferred, making it essential for anyone looking to buy or sell a mobile home. Without titles, the process of selling these homes would be markedly different.
Titles not only facilitate the ownership transfer but are also required for verifying ownership and when you need to present proof to any party.
Given their importance, it's advisable to store the title document securely, often in a safe or with a legal representative.
However, should you misplace the title, obtaining a replacement is straightforward, provided you're the registered legal owner. In such instances, contacting your local mobile home titling agency for guidance on the next steps is recommended. Typically, proving your ownership and paying a nominal fee are all that's required.
THE TITLE PROCESS
The process of transferring the title for a mobile home can vary from straightforward to complex, depending on the property's current standing. Generally, the steps involved are as follows:
First, the buyer should confirm that the seller possesses the title and is the legitimate owner.
It's crucial to check for any undisclosed liens or outstanding taxes on the property.
Following a sales agreement, both parties must have the title notarized.
The seller and buyer then proceed to the local county treasurer’s office to settle any due property taxes. Upon payment, the treasurer stamps the title as proof of payment.
After concluding the sale, the buyer is responsible for paying transfer fees at the local auditor’s office, where the document receives another stamp.
Subsequently, either party should present the notarized title, now bearing both stamps, to a local title office to request a new title.
A few weeks post-sale, the new owner receives the title via mail, signifying their ownership and invalidating any previous claims the seller had on the property.
Upon receiving the new title, the owner should inform the auditor’s office.
BUYING AND SELLING MOBILE HOMES
Before diving into mobile home ownership, it's important to ask numerous questions, including whether mobile homes come with titles. Just like in conventional real estate transactions, being informed is key, regardless of whether you're on the buying or selling side. Given the complexities involved, seeking advice from industry experts can be incredibly beneficial.
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