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PattyGee

Thread Starter
Freshman Member
Joined
Mar 16, 2008
Professional Status
General Public
State
Kentucky
m2: <<<<That's what I've been doing.
I need to know: if a piece of real estate which has a manufactured home sitting on it, is that home now
deemed part of the real estate, in HUD's, FHA's, and VA's estimation? The M/H is on a permanent foundation. The property is located in KY. The M/H was
NEW (never sold previously) when it was situated
on this land.
There is no title for the 9 year old home, and the lending
company is having a good-sized fit. I have been told two different versions: 1) Yes, and, 2) NO. Even the county attorney is stumped. (I gotta get outta KY!)
:new_newbie: PG
 

Ray Miller

Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
m2: <<<<That's what I've been doing.
I need to know: if a piece of real estate which has a manufactured home sitting on it, is that home now
deemed part of the real estate, in HUD's, FHA's, and VA's estimation? The M/H is on a permanent foundation. The property is located in KY. The M/H was
NEW (never sold previously) when it was situated
on this land.
There is no title for the 9 year old home, and the lending
company is having a good-sized fit. I have been told two different versions: 1) Yes, and, 2) NO. Even the county attorney is stumped. (I gotta get outta KY!)
:new_newbie: PG

What does state, county and township law, rules and regulations say? What does Department of MV say? This is research on your part. Should not be that hard to established if it is PP or RE. What are other similar property titled as in the area?
 

Sherrie

Sophomore Member
Joined
Mar 9, 2007
Professional Status
IT Professional-Appraisal Related
State
California
This link might help with your search:
https://www.efanniemae.com/sf/guides/ssg/relatedsellinginfo/manufachousing/pdf/mfkentuckytitling.pdf

"A Certificate of Title to a manufactured home must be surrendered in connection with conversion of the manufactured home to real property. When a manufactured home is, or is to be, permanently affixed to land, the owner of the home may execute and file an "affidavit of conversion to real estate." The owner must file the affidavit with the County Clerk of the county where the land is located, and the affidavit must attest to the fact that the manufactured home has been or will be permanently affixed to the land." (Page 5)
 

Jo Ann Meyer Stratton

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Arizona
This does not change the fact that the improvement is a manufactured home. Once a manufactured home, always a manufactured home for financing purposes. The purpose of that procedure is to enable the home to be taxed as real property and not personal property. Lenders require the real property taxation process prior to funding a loan. Check with your local assessor, building department, zoning department, etc to find out how it is being taxed. They then might be able to provide additional information on how transfers of ownerships are documented.
 

Greg Bell

Senior Member
Joined
Jul 7, 2006
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Louisiana
HUD Plates????If so it's a manufactured on a permanent foundation..
 
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