What are limits of SAFE Act provisions for MHP Owners as they apply to Lonnie Deals? Is selling rent to own park owned homes limited by SAFE Act provisions ?
Any time you sell a mobile home and “carry paper” on it, you fall under the SAFE Act. Everyone who is even thinking of going down that road should immediately consult with their state MHA regarding that state’s rules and regulations pertaining to the SAFE Act. Rent-to-own agreements have been suggested to be “disguised mortgages” if they have the wrong construction, so you should check out every aspect of the SAFE Act before you first go forward selling or renting homes, and make an educated decision. Since the SAFE Act is so very new and confusing – and there has been, to my knowledge, no actual case law yet regarding any of it – nobody can claim to be 100% on top of it. Instead, get all the facts directly from your MHA and use your own best judgement. I wrote an article on the SAFE Act a while back, and I talked to about 10 attorneys that represent or are associated with state MHAs and they all had different opinions on how it worked. What does that tell you?