From missing titles to ownership errors, these real-life stories reveal how costly mistakes happen when your manufactured home title isn’t properly handled (and how to avoid them).
I have many clients with manufactured homes. Some have them on their properties, others in parks, and some on small lots. While these homes can be a great opportunity, there are important factors to consider, especially regarding the title.
Why is the title important? The title is crucial, whether you live in a park or on your own property. You may or may not have a title for your manufactured home, as it’s treated like a vehicle title, similar to a car. But what happens if you don’t have it?
This brings us to an essential question: Do you know if you have a title for your manufactured home? If you don’t have it, you need to ask why. Is it because the title has been eliminated? This isn’t the same as having paid taxes on it for years. You may have been paying taxes to the county, which references the home on the property, but that doesn’t clarify the title situation.
Is your title eliminated? If you own your property and the title has been eliminated, it means the title was removed because it was legally converted into real estate, like the land you live on. We need to find out if the county treats your property as real property or if there’s still a deed and a title for the house.
If you haven’t eliminated your title, the next question is: Where is the title? Do you have it? If you’re unsure, get a copy.
Real-life consequences of a non-eliminated title. I’m currently helping a seller who thought the title was lost. As we applied for a new one, we discovered it wasn’t just missing. It wasn’t even in the current owner’s name. It was still in the bank’s name from two owners ago and was never updated. This is a significant issue that requires time, money, and energy to resolve.
In another case, a client found the title still in a previous owner’s name. She had to go to the licensing office with her mom to prove the chain of ownership.
I also had a client last year who hadn’t eliminated the title. They owned acreage, but still had the title in their name. It was a straightforward process to eliminate it so the buyer could secure financing. If the title isn’t eliminated, you likely can’t get traditional financing, which can cost you thousands. As a homeowner, you don’t want that.
If you own a manufactured home, please take the time to research your title and ownership status. If you’re unsure, contact me at (425) 422-7372 or Sandy@SandyAndCompany.com. Let’s work together to ensure your affairs are in order so you can avoid potential issues and be ready to sell your home if needed.
Let’s make sure everything is legally set so you can sell your house for top dollar quickly and smoothly, with minimal headaches. We are here to assist you with your real estate needs, whether related to your manufactured home or something else.
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