When a person buys a manufactured home, they either have it set on real estate they own, or rent. When the home comes out of the factory, it is titled like a vehicle...it has a title and registration. And it is taxed like a vehicle. So, the owner gets a bill every year to register it....just like a car. If the home is placed in a park, where the land is rented, then the owner will continue to get the bill from DMV every year....once again...just like a car.
If the home is placed on land that is owned by the owner of the manufactured home, then the owner has the option to turn in the vehicle title to the DMV and get an Affidavit of Affixture. This is a legal document, recorded in the county's records, that makes the home an improvement of this specific piece of real estate. Therefore the home and land are now taxed as one. An affidavit of affixture is required by all loan types. The affidavit of affixture also enables the lender to foreclose on the land and the home together. Without it, the lender would only be able to get the land.
A common misconception is that the affidavit of affixture is evidence of a HUD approved foundation, which is required for FHA loans. It is not. It in no way has any impact on the physical structure or foundation of the manufactured home.
If the home is placed on land that is owned by the owner of the manufactured home, then the owner has the option to turn in the vehicle title to the DMV and get an Affidavit of Affixture. This is a legal document, recorded in the county's records, that makes the home an improvement of this specific piece of real estate. Therefore the home and land are now taxed as one. An affidavit of affixture is required by all loan types. The affidavit of affixture also enables the lender to foreclose on the land and the home together. Without it, the lender would only be able to get the land.
A common misconception is that the affidavit of affixture is evidence of a HUD approved foundation, which is required for FHA loans. It is not. It in no way has any impact on the physical structure or foundation of the manufactured home.
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