During due diligence, is it worth your time to check titles of every home in the park? To verify that TOH are actually tenant owned and not owned by the park?
If it’s worth the effort, how do you go about this?
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It’s worth the effort, you can save this for towards the end of your due diligence period. Easiest way is to look up the address/parcel ID on the tax assessors site. They will list the taxes due along with the registered owner.
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Go to the source and get a copy of the title from the state authority that manages the titles. In Texas this is a free web lookup, and would take less than 5 minutes per home. Then as Keith says you can check the county tax records and reconcile any issues.
Completely agree worth your time and must do.
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Agreed worth the time. Also gain some of the data from the current owner, they should release what they have on the property homes with their documents related to rent roll and the like.
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