Mobile homes and site-built houses have many differences on both a legal and physical level. Proof of ownership is a critical aspect to remember when it comes to any type of property.
This article will address the question: Do mobile homes have titles? This will be discussed as well as its significance.
Property Title
Many people find the language of real property confusing. However, when you're interested in purchasing or selling property, there are specific terms you should know. The title is one of them.
It is a set of rights that a property has. The rights can only be owned by one party or owner. However, it can be divided between several parties.
It is the title of the property, as used in conventional real estate. This means you own the property, have the right to use it, and can modify it in any way you like. It also allows you to transfer the interest or portion you own to others.
Many people mistakenly confuse the title with the deed. These terms refer to two different concepts. First, the act is a legal document that transfers title from one person or another. Second, this document will require the assistance of a lawyer, legal advisor, or other professional to be completed.
DO MOBILE HOMES OWN TITLES?
Yes, most states have mobile homes with titles.
However, there are differences between mobile homes and site-built homes, which can influence legal approaches.
One is to attach traditional houses to the lot permanently. You could also move mobile homes. However, the rights to the land are usually separate from the rights to the ground.
A second is the fact that each section of your mobile home will have its title document. One title document is sufficient for a single-wide mobile home. For a double-wide home, however, you will need two.
In general, manufactured homes are treated legally in the same way as motor vehicles.
The motor vehicle department of the state where the mobile home is located must issue a title. These documents contain important information about your Mobile Home, like: Year Built, Model, Name of the past and present owner, Serial numbers, Details of the Mobile Home, etc.
DOES IT Matter?
The title is used to transfer ownership of the mobile house. It is essential for anyone who wants to purchase or sell the property. Without labels, the sales process would be very different.
These documents are required whenever you need to prove ownership or provide this information to someone.
They are essential so make sure you keep your title deed safe. Many people keep their title deeds in a safe place. In some cases, they may leave a certified copy with their lawyer.
Even with these precautionary steps, it is possible to lose the document. Therefore, you should replace the paper as soon as you can. It is easy and quick. First, however, you must be registered as the legal owner.
To find out the following steps, contact your local mobile home title agency. In general, the record owner needs to prove that they are the owner and pay a small fee.
THE TITLE PROCESS
The process of transferring a title can be very simple or quite complex, depending on the current status.
The steps to build a mobile home are typical as follows:
First, a potential buyer must verify that the seller holds the title and is the actual owner.
Also, you need to verify if there are any hidden liens and back taxes.
After the parties have signed a sale agreement, they must notarize their title.
The seller and buyer must sign and notarize the title before they can pay any property taxes. The document will be stamped by the treasurer as proof after they have paid the tax.
After the parties have completed the sale, the buyer must pay the transfer fees to the local auditor's office. Then, they will have to attach a stamp once again.
To obtain a new document, one party must take the notarized form with both stamps to the local title office.
The title will be issued to the new owner a few weeks after closing. This indicates that they are now the property owners, and the other party has no claim to it. Therefore, the documents held by the former are no longer valid.
You must notify the auditor's office if the owner receives the title by mail.
MOBILE HOMES
You need to be able to answer any questions before you enter the mobile home market. There is so much to consider, so it may be helpful to consult industry professionals to help you.
Comments