Attaching land to a MH - Posted by Mark_TX

Posted by David on March 02, 2000 at 19:52:58:

Yes, a first mortgage against the land and home together, and insurance with you as loss payee.

Attaching land to a MH - Posted by Mark_TX

Posted by Mark_TX on March 02, 2000 at 17:52:47:

Hey guys, I have a deal in the works to sell a MH to a guy who wants to move one to his land…I need a way to attach the MH to his land so I have more security.

Has anybody ever done this, does anybody know how to do this, does anybody have the forms I would need to do this?


Finance the sale and still realize cash - Posted by Michael Morrongiello

Posted by Michael Morrongiello on March 02, 2000 at 22:35:26:

You may want to look into getting what is known as an “afidavit of afixture” in your state that recognizes the home and land together as a package and taxes them together in the future as real property.

If the land is owned free & clear or almost free & clear you can agree to secure the sale of your mobile home by moving it on to the land,. gettting it permanently set up (wheels and axles removed, tongue removed, all utilities there, tied down , skirting, etc.) and then take back a private deed of trust that would be secured by both the land and the mobile home.

If the note and deed of trust are set up correctly with the proper tems, etc. if you choose to you can then sell that instrument for immediate CASH.

Michael Morrongiello

hold on… - Posted by David S

Posted by David S on March 02, 2000 at 20:22:37:

you don’t want to attach the mh to the land, unless the land is free and clear or has alot of equity. That way, you have a 1st lien (if free and clear) or a 2nd lien junior to a small first. If you do attach the mh to the land, it becomes a real vs personal property issue and may get complicated.

Create a lien, 1st position if possible, and a promissory note on the land separate from the mh.

This way, you have 2 separate liens on 2 separate properties; one real property, one personal propety. I don’t know the state laws there, but you may be able to avoid foreclosure on the land if needed and may be in the position to ‘repo’ the mh if they don’t pay.

Just an idea.

David S