Posted by Gary TX on January 20, 2003 at 19:42:21:
Hello Richard,
The reason she is buying from dealers without a title is because they are canceling the titles because the homes are not habitable. An As Is home must be habitable when sold. Another words it must have been in bad shape when she brought them.
Personal, I have pass on some good deals because they didn’t have a title. How are you going to put a lien on your note without a title. When you sell on a note you are the lien holder and it say just that on the title.Transfer fees or only 35.00 dollars.
If you are going to rent them out then I guess you don’t need a title and a bill of sale would work.
As far as finding a lawyer call around to some dealers and they can point one out to you.
Gary
Posted by Richard (TX) on January 20, 2003 at 18:11:49:
I have been out talking to park managers today and have some questions. My being new to MH’s I just don’t know the answers. A nice lady owner/manager of 21 years just told me that if a MH is over 10 years old that you don’t need nor want a title, that all you need in TX is a bill of sale. She buys from dealers mostly and fix and sell, carring note. She even showed me the bill of sales she gets and the ones she sells on. Some of them are just hand written then signed by buyer and seller. You must also have a wittness sign. Can it be this is true? She says if you use titles you just have to pay transfer fees and there is no need. Also she says she has to do things somewhat questionable as to repo’s. She can not find a lawyer here to handle repo’s. What do those with experence do about repo’s in Tx?
Thank in advance and God Bless
Richard McCaslin