I have read through DOW, loads of threads and am still confused about what I exactly do as a LD about the title to be in accordance with the law.
I live in Texas and we have Statement of Ownership and Location (SOL) instead of titles. There is a form to fill out on the state website that is required whenever a change of ownership occurs along with a $55 fee. What I am confused about, as a LD, is that do I fill this form out twice? Once when I buy and then again when I sell?
Lets say I buy a MH today and turn around and sell it tomorrow. Can I simply take possession of the SOL and then mail in the required state docs to transfer the SOL from the previous owner to the new owner without me as the middleman involved?
The full completed transaction takes at least 15 days, so I’d be waiting at least a month before all this paperwork is done if I send it in twice.
Also, does the buyer pay this amount and when do you charge them?
Thanks for any help, I’m brand new to this and I’m getting very intimidated by all the paperwork I have yet to complete.