Thread Options
#2238283 - 06/17/20 09:52 PM Mobile Home with title not taken as collateral
DoubleNickel Offline
Junior Member
Joined: Jan 2013
Posts: 25
Lender is taking an RV park which has two mobile homes on the property. The mobile homes are attached to the property but still are titled, not surrendered to be considered 'real property'. If lender does not take the mobile homes as collateral and file a lien on the titles, takes only the land itself, do we have to require flood insurance?

Return to Top
Flood Compliance
#2238284 - 06/17/20 09:59 PM Re: Mobile Home with title not taken as collateral DoubleNickel
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 78,958
Galveston, TX
No security interest in the buildings = no flood insurance.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#2238292 - 06/18/20 12:45 PM Re: Mobile Home with title not taken as collateral DoubleNickel
DoubleNickel Offline
Junior Member
Joined: Jan 2013
Posts: 25
Thank you!

Return to Top