Does anyone know if a Mobile Home can be put into a family trust in California?
My son has a mobile home that he wants to let us take over, but the park rules only allow the “registered owner” to live in it. Since we are not the registered owner and are not taking over the loan, the park won’t allow us to move into this unit. My son is going to keep the loan in his name and we will make the payments until we can afford to purchase it from him.
I asked the park manager, “what if the mobile home was in a trust”.? No answer. Has to check with the park attorney.
I also checked into adding our name on the “registration” as co-owner or co-tenant.
The reason for the owner rule in parks is simple - the parks are greedy!
Well, and the fact that history shows that a park full of true owners instead of renters is more likely to be taken care of (ie, no bad eliment).
But, this logic doesent always work out either.
Back to the greed thing though, parks like to lend on the houses and rent the lots - you default, double payday again!!!
The simple answer is - dont tell them anything!!! just move in
Or, do a ligitimate purchase contract with your son - subject to his current mortgage - make sure though, theres not a provision against it in his origional mortgage docs.
If, you hold title, you own - reguardless to who holds the note!
