Posted by Ben on September 18, 2009 at 24:41:44:
Hey Mike in CA a MH remains personal property unless and until a 433A is filed and completed at which point it becomes real property. This is true regardless of the status of the whels and axles.
Good luck with your ventures.
Ben
California Deals - Posted by Mike R.
Posted by Mike R. on September 14, 2009 at 01:38:56:
Hi everyone,
I’ve read DOW and gotten myself into this wonderful world of Lonnie Deals with my first purchase. It went just as described in the book and I got it for $1500 (ask price was $3500). However I am a bit concerned about the way CA laws apply. I don’t have a dealers license yet becuase I wanted to do my first deal before sinking anything into the state fee wise and am wondering if the state usury laws apply. I am under the impression that it is a personal property item and they shouldn’t apply, however a family member who is a real estate attorny suggested that once the wheels and axels come off it is considered deeded. Does anyone have any experince in CA that could tell me a little about the laws and license requirments? I have searched quite a bit and Google is not being my friend. Thanks in advance.
Mike