I think I’m missing something…If the SAFE ACT doesn’t allow park owners to “finance” they’re POH’s to tenants without a rent credit system in place, then how are park owners allowed to sell their parks through seller financing?
SAFE act doesn’t apply to commercial transactions
Gotcha. So selling a park falls under commercial and selling the individual mobile homes falls under residential?
The key word, I believe, is “dwelling.”
Commercial, multi family, and sales to investors are typical DF and Safe Act exemptions.
It applies when the dwelling is the collateral for the loan to someone living there.