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#2264488 - 01/07/22 09:43 PM Flood insurance on outbuilding/shed tenant owned
Helpcompliance Offline
Junior Member
Joined: Mar 2015
Posts: 31
Kentucky
The situation, a loan on a mobile home park; the person who rents the lot and owns the manufactured home (not used as collateral) puts an outbuilding/shed on the lot. If the land is in a positive flood zone, would flood insurance be required on the outbuilding/shed?

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Flood Compliance
#2264490 - 01/07/22 09:58 PM Re: Flood insurance on outbuilding/shed tenant owned Helpcompliance
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 78,584
Galveston, TX
I am not sure I understand. Your collateral is the mobile home park. One of the renters puts a shed on their lot? I doubt your security interest would reach that shed as it will remain the property of the renter. That would be considered a leasehold improvement and you would have no more of a security interest in it than you would any mobile home that a renter placed on their lot.
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