No titles on POH- thoughts?

Question

Hello friends,

I am looking into purchasing a park that seems to be a great value, public utilities, great metro.

However, all of the park owned homes are conveyed without titles. Does that automatically make this a bad deal?

I know it can be difficult to obtain titles on them, what other sorts of problems can this create if I were to purchase this park?

Best,

SVP

Rachel H. · Answer

@Shweta Patel If you own the land, you may be able to file for abandonment for each of those park owned homes. Check with the government entity in charge of titling mobile homes to see if this is possible and inquire about the process. Though, you may want to think about if you want to even keep those park owned homes (depending on their condition) or get better ones in good condition. Be careful about how much work you actually want to do to these homes which can cost a lot in the long run. Good luck!

Jack Martin · Answer

@Shweta Patel in most states, mobile homes are titled with the motor vehicle department, just like a vehicle title. You can get the title to a mobile home yourself, or hire a company to do it for you. If you want to get them yourself, stop by the DMV in your state and ask what the process is. Sometimes, it is easier to work with a private 3rd party title place if your state has them. You can search google maps for "vehicle title" or "auto license" and you will find the ones near you. I have found those smaller 3rd party licensing places to be a lot faster and easier to work with.

If you want to hire a company to get the titles for you, try snickfish.com as they do that service nationally. There may be a local company that does it in your area as well.

Also, you can reach out to any MHP management company and they will likely have a resource for you.

All the best,

Jack

If you want to hire a company to get the titles for you, try snickfish.com as they do that service nationally.  There may be a local company that does it in your area as well.

Also, you can reach out to any MHP management company and they will likely have a resource for you.

All the best,

Jack

Mike Storey · Answer

@Shweta Patel it is not uncommon to have singlewides without title. I own a park where I only received a few titles at closing. I had an agreement by the attorney drawn up as a bill of sale.  These homes are taxed by the county with the land.  You can put the taxes in your name without the actual title, the county just wants their money. If the value of the trailers are low then I don't really see the issue. Nobody is coming to claim l ownership as they would owe you the back lot rent.

Sharon B. · Answer

In Colorado, it can be a tough situation. The County makes you post a large bond for many years before you can get the title. Plus have to mail a notice to the last registered owner and things like that. I don't remember the amount of time or bond amount, but it seems like it was quite bad.

Lamont Marable · Answer

A Park?  Like "Parks and Recreation" or like "Hey mom we're going to the park to play ball" type of park?  I'm showing my ignorance as I had no idea that you could buy a park.  That cool though!

Jack Martin · Answer

@Shweta Patel in most states, mobile homes are titled with the motor vehicle department, just like a vehicle title. You can get the title to a mobile home yourself, or hire a company to do it for you. If you want to get them yourself, stop by the DMV in your state and ask what the process is. Sometimes, it is easier to work with a private 3rd party title place if your state has them. You can search google maps for "vehicle title" or "auto license" and you will find the ones near you. I have found those smaller 3rd party licensing places to be a lot faster and easier to work with.

If you want to hire a company to get the titles for you, try snickfish.com as they do that service nationally. There may be a local company that does it in your area as well.

Also, you can reach out to any MHP management company and they will likely have a resource for you.

All the best,

Jack

If you want to hire a company to get the titles for you, try snickfish.com as they do that service nationally.  There may be a local company that does it in your area as well.

Also, you can reach out to any MHP management company and they will likely have a resource for you.

All the best,

Jack

Gulliver R. · Answer

Call the county treasurer and/or the county tax assessor and ask them how you can go about getting the titles transferred over to you after the sale. You may also want to call the state BMV (bureau of motor vehicle) and ask them too.

Gulliver R. · Answer

Call the county treasurer and/or the county tax assessor and ask them how you can go about getting the titles transferred over to you after the sale. You may also want to call the state BMV (bureau of motor vehicle) and ask them too.

No titles on POH- thoughts?

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