My understanding of the CASH program is that it provides the favorable terms that it gives tenants because the park owner is ultimately responsible in the (unlikely) event of tenant default. My question on this is twofold: (1) Is it the owner, or the actual Park (LLC) that is responsible in the event of MH tenant default? and (2) How is that liability transferred (or is it?) when that owner who has undertaken CASH homes now sells the park? (i.e. how is the sale arranged when owner is personally guaranteeing x number of CASH homes?, etc).
Would love to hear from anyone who has insight on this. Thanks in advance.