What is a Manufactured Home Title?
Most people don’t know that mobile homes have a title, and you must have one to prove you own them.
A title, also known as a certificate of title, is a legal document proving ownership of your manufactured home. When you buy a new mobile home, you will almost always need to obtain the title. The precise details, however, will be determined by the location of your mobile home and the land on which it is situated.
Today we want to share some information with you about manufactured home titles and what they mean for you.
Let’s take a deeper look!
Why is a Title Required for my Manufactured Home?
Before getting financing and even insurance for a mobile home, most lenders and insurers require your manufactured home to have a title. A title enables your lender to have a lien on your home, which means they have a legal claim to it until your mortgage is fully paid off.
A lien on a manufactured home title is similar to a lien on a car title (just like a boat or RV.) This is because a mobile home can be moved to another location, therefore is considered personal property (unless it is secured to a permanent foundation.) Long story short, the lien guarantees that you will repay the amount borrowed to purchase the item.
Information Listed on a Manufactured Home Title
A manufactured home’s title doesn’t just list the owner’s name. There is a list of important information on this paperwork, including:
- The owner’s name
- The names of any lien holders
- The mobile home’s vehicle identification number/serial number
- The make and model of the mobile home
- The year it was built
So, if you don’t have the certificate of title for the manufactured home you own or want to buy, you’re missing important documentation.
How Many Titles Do I Need?
Wait, more than one title? YES, sometimes that is the case, depending on where you live.
It’s pretty simple. Every section of a mobile home needs its own title. So this means a single-wide mobile home needs one title, a double-wide mobile home needs two titles, and a triple-wide mobile home would need, you guessed it – three titles!
How Does a Title & Deed Differ?
To put it simply, personal property uses titles, and real property uses deeds. You will have a deed if your manufactured home is permanently affixed to its foundation and on land that you own.
There is a clear distinction between a title and a deed.
A title is a legal document that transfers ownership of personal property, whereas a deed is a legal document that transfers ownership of land from one person to another.
For example, if you were to sell your manufactured home without the land, you would have to transfer the title to the new owner. If your home is permanently attached to the land, it is considered real property, just like a traditional site-built home. In that case, the deed would transfer both the house and the land to the new owners.
It should be pretty clear at this point what a manufactured home title is. You need to know that titles are needed for personal property, and deeds are needed for real property. If you plan on converting your mobile home to real property, you won’t need a title in most states. It is, however, necessary to file an affidavit of affixation in the county where you live. This proves you own both the manufactured home and the land it sits on.
The good news is… there is no need to stress over meeting the correct requirements and taking the right steps. When you are in the process of purchasing a mobile home with us at Braustin Homes, we will ensure you don’t forget to cross your t’s and dot your i’s!
Speak with an expert at Braustin Homes today!