Does anyone on this forum ever use a strategy of placing a lien on a resident’s mobile home to help enforce the policy of not allowing homes to be sold and moved outside the park? Or perhaps as a strategy to deal with the occasional abandoned home?
When I sell a home to a resident, I put in their lot lease agreement that they cannot move the home out of the park, and cannot sell to someone else who would move the home. If someone actually decides to break that provision of the contract, I have little recourse. If, however, I am able to place a lien on the home (e.g., in lieu of a larger deposit), then they would need my permission to transfer title of the home to another person.
I’ve not done this yet, but I’m considering it and wondering if others have made this a practice.
A benefit of doing this is that it happens to help me when I end up with the occasional abandoned home. In NC the process of taking title to an abandoned home is lengthy and somewhat arduous, at least I found it to be. If I had a lien on a resident’s title, if they abandoned the home it would be much easier to take title back.
What are the pros and cons of such a practice?