Quick question…what is the accurate way to sell the mobile home but keep the land that it is deeded on (and collect lot rent?)
thanks
Lori
If the mobile is still registered with the DMV, you sell it with a title like a car. If title has been purged, it’s part of the land, but you can separate that and use a bill of sale (but you’d have to check with local DMV if there’s a process to un-purge it).
Just as Bill described. One thing, if you need to separate both the home and the land, make sure the taxes reflect it. Also, you may want to make it a point to monitor your taxes on both assets. I recently just protested taxes on a couple of mobile homes which have been increasing in value every year. Just by submitting a piece of paper and over a few phone calls to the appraiser district was I able to lower them by a few thousand dollars. The time you put into this practice will be worth it down the road. Best of luck!