US Legal Forms
Amendment to Sales Contract of Real Property

Amendment Real Property For A Manufactured Home

Category:

Real Estate - Contracts

State:

Multi-State

Control #:

US-02821BG

Format:

Instant download

Description

The Amendment to Sales Contract of Real Property is designed to modify existing agreements related to the sale of manufactured homes. This form allows parties to change key details such as the closing date, possession date, loan commitment date, purchase price, loan amount, loan terms, and interest rates. Users can also specify new responsibilities regarding closing costs and add contingencies. This amendment ensures that all parties are on the same page regarding these changes, crucial for a smooth transaction process. It is particularly useful for attorneys who need to ensure legal compliance when modifying contracts, owners who must adjust terms due to changing circumstances, and paralegals assisting in documentation. Additionally, associates and legal assistants can utilize this form to keep records accurate and up-to-date. Anyone involved in real estate transactions will find this amendment indispensable for managing changes efficiently.

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FAQ

How do I elect my home as real property? By default, all manufactured homes are personal property unless elected otherwise on a completed Application for Statement of Ownership accompanied by the applicable fees and recorded with the County Clerk.

If it is titled as real property, the home and land will be classified and taxed as a unit. However, in most instances, regardless of how it is titled, an attached manufactured home may be classified and taxed as real property. The provisions of the Tax Code are controlling in that regard.

Ohio Revised Code Manufactured homes that acquired situs in Ohio or were transferred on or after January 1, 2000 are subject to a manufactured home tax that is like the real property tax. Alternatively, the owner may convert such a home to real property status and therefore subject the home to the real property tax.

A mobile home or manufactured home is considered personal property unless it meets the following qualifications as real property: it is permanently affixed to real property; the person seeking to have the manufactured home or mobile home considered to be an improvement to real property owns the manufactured home or ...