I sold a home to a tenant for cash & now (a month later) he told us he’s attempting to buy land to move the home out.
My question is, for future tenants, is there a form or agreement I could have them sign at sale which states they must keep the home in the park for ~5 years?
What you want is a lease agreement (5-years).
Would you structure it so lot rent can still go up on an annual basis?
You could. I would. Good luck!
The lease might deter a tenant from moving out but if he/she secures land of their own and is determined to do move I am sorry but there is no stopping them. At which time, all you can do is take them to court which is not advisable because of the hassle to do so and the fact that the judge might judge in your favor.
Make it part of the bill of sale and specify that the home must remain in the community for “X years”. I would then have them initial beside it for good measure.