SC - Advertised POHs - With Tenants - Thanks!

mobile home university
1

QUESTION: What to do with ‘Advertised’ Park Owned Homes that have Tenants that were sold with the Park that actually do not belong to the Old Park Owners (thus no Title Transfer to New Owners) and no one else is claiming ownership?

My Husband and I recently purchased a SC Mobile Home Park that needs some TLC.

The Original Owners (Husband & Wife) of the Mobile Home Park had passed away several years ago and the Park was in an Estate.

Part of the negotiated Purchase Price of the Mobile Home Park was 12 Park Owned Homes.

In SC an Attorney is engaged to transfer Real Estate from one person to another. The Attorney was willing to do the actual Real Estate Transfer. However, he did not want to deal with the Mobile Home Titles (in SC Mobile Homes are Titled just like Vehicles through the DMV).

Before Closing we continually asked the Sellers for copies of the Mobile Home Titles (front and back) to verify that they owned the Mobile Homes before Closing.

Unfortunately, the day before Closing they still had not provided 7 of the Mobile Home Titles.

To be able to Close on the transaction a ‘Mobile Home Title Escrow’ was created. In this Escrow $7,000 x 7 Homes=$49,000 was held from the Sellers final check. For every Title the Sellers produced (within a 45 day period) the Sellers would receive a $7,000 check from the Escrow.

Shortly after Closing the Sellers provided 2 of the missing Mobile Home Titles. Once they had provided the 2 missing Mobile Home Titles they received $7,000 x 2 Homes=$14,000 from the Escrow.

However, yesterday we found out from the Sellers that they are not able to get 5 of the ‘Advertised’ POH Titles as these were given to them at a Magistrate Sale many years ago and they do not have the original paperwork.

If we do not receive the Mobile Home Titles, we get the specified amount from Escrow.

However, what should we do with the 5 ‘Advertised’ POHs with Tenants in them?

We do not have the VIN #s for these POHs nor copies of Titles.

Thanks So Very Much!

2

The process to register the homes will be the same for either you or the seller so the first thing you need to do is finalize the deal with the sellers and get your $7000 X 5 money back.

You then will go to the DMV and simply jump through their hoops to register the homes in your name.

In the interm keep, or start, collecting the rent.

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This is a windfall for you, because you’ll easily be able to secure the titles yourself through the abandoned property process. Just ask your county how to do it. This problem is quite common, and very easy to fix. And/or call your state’s Manufactured Housing Association and ask them.

-jl-

4

Greg & Jefferson, thank you so very much!!!

We greatly appreciate it!!!

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I have a park in South Carolina and I believe you can call DHEC who transfers the park in your name with new permit. They will guide you through the process. The home has to be advertised in the paper, there is an auction at your park, 99.9% no one will show up and then you own it. Simple process.

6

Every state is different.

Can you claim the homes through back lot rent? This works in a number of states.

7

Brian Z and Rishel, thank you so very much!