Nuts and Bolts Title Question

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.

I suppose the answer could vary by state but for the most part, unless you have a dealer’s license, you are cannot transfer title from your seller directly to your buyer. Usually you would have to first register the title in your name then the seller would take title in their name with you listed as the lien holder (you doing the paperwork to make certain of this).

I would ASSuME that the Texas Statement of Ownership would follow a similar pattern (this way they get the taxes and fees twice) but you know what they say happens when one ASSuMEs.

I hope someone from TX will jump in to shed more light on the details.

Tony

It definitely appears that I will transfer the SOL twice. What I am still wondering though, is what I will show to the potential buyers to show proof that I own the mobile home.

The online records will not have been updated and I will not have a new SOL in my name for at least 15 business days.

On the other hand, I will have all of my paperwork from the completed transaction as well as the old SOL as well. I suppose this will be sufficient for most people…I don’t know?

Most people will not ask. Those who do know to ask will likely understand why the paperwork is in process and what you have shows how things are in process.