Posted by Mike Barlow on March 02, 2007 at 13:38:42:
I’m new here but here goes anyway. It is a major issue when you buy it
or flip it. How do you know they own it? I would not give anyone any
money unless they can deliver a title to me. Does that make sense or
is there another option?
In our park a lot of times we do not know who owns the home. This
forum has opened my eyes to a lot of issues we are not dealing with.
So far it has not made any difference. Who ever is living in the home is
paying the lot rent and we are happy. Maybe we should be getting a
copy of the title before we accept rent from the person living in the
home, what do you think? Should we ask for a request for a copy of
title from each questionable home owner. We can go on line in our
county and see who shows up as the owner of the home then if we do
not recognize the name ask for a copy of the title.
Thought I’d ask this question to the group. The past couple of people I have
met who have been trying to sell their mobile homes have no title to the
property. Either they bought it from a dealer with a bill of sale or received
from family members as a gift.
If they do not have title, will this be a major issue when trying to sell and
doing a “Lonnie” deal?
The other issue would be the park. Wouldn’t they want title in the owner’s
name to draw up the agreement for lot rent?
Since you are in Texas, if you are wise, you will not deal in mobile homes w/o titles/Statement of Ownership and Location. (SOL) If you can locate a clear path to the SOL go for it. If not, there may be liens, or back taxes attached to it, which you would have to pay or clear before you could sell. In addition to being careful about SOL’s you may only sell one MH per year in Tx. w/o a license. I have been to the class in Austin, but I don’t have a license. I intend to get one when I am ready to get active. I currently have too many irons in the fire. I think a retailers license will be the way for me to go. I am in the Greater Houston area. Good luck to you.
Rachel, no titles are not a big problem in Texas. Go to this website (Manufactured Housing Division) and contact the Texas Department of Housing and Community Affairs and they will explain the process to you. In Texas we have SOLs (Statement of Ownership and Location) not titles.