Our property management entity, which is a MT LLC currently owns a mobile home in a park that another one of our MT LLC entities owns in Great Falls, MT. We have a buyer and would like to sell the home. The buyer cannot get financing and we are trying to assist them in buying the home. We want to remain compliant with Dodd Frank and the Safe Act. Can you advise the best way to proceed so that we are fully compliant with all rules?
Seems like we will qualify for the second exception.
We are wondering if:
a.) Seller financing is possible. This will be the first mobile home we will seller finance.
b.) If a rent credit program is legal in Montana.
c.) Our attorney recommended selling under a Contract for Title with a UCC1 Finance Statement (though he was unaware of Dodd Frank)
Dodd Frank Links
Any advice will be greatly appreciated.
Equity Properties LLC