Posted by Tony-VA/NC on April 14, 2004 at 19:44:30:
Typically a good template for a locally tried and proven, security agreement for personal property, such as mobile homes or cars, is the agreements used by local lenders when making car loans.
Bear in mind, these are likely to be copyright materials.
Tony
source for good security agreements? - Posted by Bob
Posted by Bob on April 14, 2004 at 19:37:11:
I’ve heard fellow note buyers complain that most of the MH security agreements they see are inadequate, insufficient, or just plain non-existent. I figure that if I’m going to buy other Lonnie dealer’s notes I should get them to use a good security agreement for their deals. Even if they don’t sell to me it still improves their business. Anybody know a source of good security agreements?
Re: source for good security agreements? - Posted by Jim Burke
Posted by Jim Burke on April 18, 2004 at 06:06:41:
We have a security agreement that we have developed in house over time. We provide it to folks who sell notes to us. Unfortunately, we can’t guarantee that it is legally sufficient in any particular state. I am happy to share it for information purposes, and I also would like to see what others are using. If anyone wants a copy of ours, contact me; or send me yours as an email attachment and I’ll give you a call.
Jim Burke
800-706-6670
jlb@mobile-home-notes.com
Re: source for good security agreements? - Posted by Dan(MD)
Posted by Dan(MD) on April 14, 2004 at 21:03:47:
I went to a lawyer and he pretty much created a new one from scratch (as opposed to using Lonnies), it wasn’t cheap but I feel more confident a judge will side with me if necesarry.
Dan
Re: source for good security agreements? - Posted by ScottM (NC)
Posted by ScottM (NC) on April 14, 2004 at 19:49:07:
Bob,
I have what I think is a good security agreement. I also may be interested in selling some notes in the future.
I would be interested in sharing my security agreement with you for your review /critique.
Contact me directly if you’re interested.
Scott