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Updated about 2 months ago on . Most recent reply

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Victor Correa
  • Real Estate Agent
  • Houston TX
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Subject to mobile home with bank lien

Victor Correa
  • Real Estate Agent
  • Houston TX
Posted

Have a deal, subject to mobile home with bank lien, Not payed off, Seller just bought 2 years ago & I am taking over but reading about the title transfer need consent from lien holder. Has anyone done this or a way to transfer title ? In Texas without lien holder consent or? 

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Adrian Smude
  • Rental Property Investor
  • Plant City, FL
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Adrian Smude
  • Rental Property Investor
  • Plant City, FL
Replied
Quote from @Victor Correa:

It’s Mobile Home with Land I’m taking over both land payment and Mobile Home payment and right as of now is considered personal property but you just open up my eyes and I’m thinking what we can do is convert into real property and then transfer the land and that way it’s attached to the land Your thoughts? Oh bud, I think it would do that we’re gonna need lender’s consent as well and that’s what I’m trying to prevent, but maybe they do it under them handle that part and then after the fact transfer it. 



I've purchased land with a mobile home and took the mobile home subject to.  Please make sure you have all the correct disclosures and everyone knows what's going on so you do not get in trouble or anyone else.  There are some people out there doing this unethically and being watched.  
You'll want a title company/closing attorney who understands how to do this correctly.
No matter how you do it have a back up plan in the event the mortgage company call the loan due.   

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