The major difference is that the deed to the property is not conveyed until the purchase price is paid in full; property being transferred in this arrangement must be owned free and clear by the seller; for selling properties that may be difficult to compare due to unique construction, number of bedrooms, etc; terms are at the discretion of buyer and seller.

Generally speaking, property will pass first to a surviving spouse, or to the children if there is no spouse, but some states have weird twists that could transfer everything to a sibling or even parents, if still alive, or even into the spouse’s family.

The bank required all the documents on the deed, the bank statement transfers that paid for the property, and even a past rental statement from the property manager. 

My contractor did the planning already, went to the city building offices for the permit and they told him that until the property would not title transferred.

She would like to transfer the house into my name and I am planning to live there for another 3-5 years at the very least.

Until then, you can simply transfer money from your business account to your personal account.

The bank required all the documents on the deed, the bank statement transfers that paid for the property, and even a past rental statement from the property manager.

The tenant has been there since 2016 and the current owners lease is transferring over to me.

If I were in your shoes I would do everything possible to 1) save a emergency fund by living as frugal as possible 2) Save up and purchase a car- If transportation is a need then purchase something cheap and reliable 3) save for a house down payment.

Let us also assume that the home does not have to be moved, is it a decent location with population, decent size/age/condition, and the parks application process and ethics are normal.When it comes to purchasing a mobile home with or subject to the underlying debt within of a park, it is a bit tricky because in most situations the bank will not allow the owner's name on the title to transfer unless the lien is satisfied.