Chattel Mortgage Form For Mobile Home In Collin

State:
Multi-State
County:
Collin
Control #:
US-0007BG
Format:
Word; 
Rich Text
Instant download

Description

The Chattel Mortgage form for mobile home in Collin is a legal document that establishes a secure loan agreement between a mortgagor and a mortgagee concerning a mobile home. This form provides crucial details including the identities of both parties, the description of the mobile home serving as collateral, and the financial terms of the loan. It outlines the total amount secured, the interest rate, repayment terms, and stipulations regarding the maintenance and insurance of the collateral. Additionally, the form includes covenants that the mortgagor must comply with, such as maintaining ownership and preventing any encumbrances on the property. For attorneys, this form is vital to facilitate transactions in real estate law related to mobile homes, ensuring compliance with relevant regulations. Partners and owners will find it useful for securing financing while protecting their investment. Associates, paralegals, and legal assistants can use this form to streamline the mortgage documentation process, ensuring all necessary details are accurately captured. This document is particularly relevant for individuals or entities looking to finance a mobile home while retaining the rights and obligations associated with such an agreement.
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FAQ

Section 1201.222 - Certain Manufactured Homes Considered Real Property (a) A manufactured home is treated as real property only if: (1) the owner of the home has elected to treat the home as real property as provided by Section 1201.2055; and (2) a copy of the statement of ownership for the home has been filed in the ...

To sell or offer to sell manufactured homes to a CONSUMER, a person must be licensed with the TDHCA Manufactured Housing Division and sponsored by a licensed and bonded retailer or broker. Salespersons cannot sell independently. Retailer and Salesperson licenses should always be displayed and visible.

State law requires that a manufactured home have either a HUD Label or a Texas Seal attached to it BEFORE any sale or exchange (or any negotiations for such) of the home to a consumer.

Payments held in escrow for a manufactured home do not transfer ownership. Applications for Statement of Ownership and all associated paperwork must be submitted to the Texas Department of Housing and Community Affairs (TDHCA) to complete the ownership transfer.

In Texas, selling a mobile home requires you to have the title and ownership documentation in order, just like any other property. You'll need to ensure the title is clear, meaning there are no liens or claims against the home, and that it accurately reflects the home's information.

What is another word for mobile home? campertrailer caravanette Dormobile double-wide doublewide camper van vacationer holidaymaker tin can9 more rows

The proper term for a mobile home is manufactured home. Terms like a trailer, trailer park, and even mobile home are no longer politically correct, but the public has been slow to adopt the proper term, “manufactured home.”

Mobile Mortgage Specialists (MMS) are TD employees who are available to assist with your real estate borrowing needs at a location of your choice and are often available outside of normal banking hours including evenings and weekends.

Chattel is any tangible personal property that is movable. Examples of chattel are furniture, livestock, bedding, picture frames, and jewelry.

A form of security interest, typically a legal mortgage, taken over tangible movable property (known as chattels).

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Chattel Mortgage Form For Mobile Home In Collin