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Latest post 02-11-2009 2:14 PM by grammaolee. 1 replies.
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  • 01-01-2001 12:00 AM

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    • Joined on 11-22-2008

    2003 Senate Bill 425

    Introduced in the Senate on April 30, 2003, to revise the procedures that apply to recording the ownership of and liens on mobile homes affixed to real property in which an owner of the mobile home has an ownership interest. The bill creates a new procedure under which affixed mobile homes would be treated the same as non-mobile home structures built on a lot, rather than under the same procedures and regulations which apply to mobile home courts. Before the mobile home could be detached from the property, the owner would be required to re-register the mobile home under the regulations that apply to mobile homes. The bill addresses concerns raised by a recent court case which suggested that the mobile home law precludes using ownership of a mobile home as security for a home loan

    The vote was 37 in favor, 0 opposed and 1 not voting

    (Senate Roll Call 117 at Senate Journal 45)

    Click here to view bill details.
  • 02-11-2009 2:14 PM In reply to

    Re: 2003 Senate Bill 425

    If you are a John Doe trying to selll or purchase one of these 'titled homes' you would find that the financial institutions are requiring a 8-10% interest rate on these lot based homes.  I am uncertain if i am reading this correctly but seems if it is deemed and taxed real property why won't anyone loan money at a decent rate?  Puzzled.

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