What Is a Lot Rent for a Mobile Home?
If you own or rent a mobile or manufactured home, you need a place to park it. To do that, you will need to sign a written lot lease agreement. Because a mobile home is a form of housing that can be readily moved and is not permanently attached to real property, it is classified as personal property under the law. A mobile home “lot” is simply a piece of real estate where a mobile home can be legally placed and inhabited. The law requires that agreements for the lease or rental of these lots, like all real estate contracts, be reduced to writing.
Related Questions
- If a borrower owns land with a mobile home on it, has occupied the mobile home as his/her primary residence and paid rent for it, are they a first-time homebuyer?
- If a grantee or subgrantee is assisting a client who owns a mobile home with lot rent, do the housing inspection and lead based paint requirements apply?
- AS A PARK OWNER OF A 55 PLUS MOBILE HOME PARK, CAN I RENT LOTS TO INDIVIDUALS WHO ARE UNDER 55?
