I have a park under contract. It has 60+ park owned homes. My plan was to sell the homes on a lease option to get away from the cost & problems associated with renting. During due diligence I discovered that the owner has title to only about 10 of the homes. Several he inherited when the prior mobile home owners abandoned them. He also can’t find the written leases for most of the abandoned homes, making it difficult to get tiltle via the lien process. The others, he obtained when he purchased the park around 20 years ago. Unfortuneately he never got title to those and the prior park owner is deceased. This changes the situation completely. Has anyone ever run into something like this.
1 Is there a way to get title to the abandoned homes, without having the written leases as evidence.
2 How can I get title to the homes the seller got when he bought the park 20 years ago.
3 Is there some way to get title to all the homes via some equitable lawsuit, vs having to go after all the prior owners one at a time.