Posted on: 20th Nov, 2010 09:57 am
If I sign over my mobile home to the park owner where it is located, does the park owner assume any attached debt there may be? ie: liens
Welcome slandry,
Once you sign over the property to the park owner, then he will be liable for the liens. However, if there is a mortgage on the property, then the park owner will have to refinance the mortgage in his name in order to get the loan transferred in his name.
Once you sign over the property to the park owner, then he will be liable for the liens. However, if there is a mortgage on the property, then the park owner will have to refinance the mortgage in his name in order to get the loan transferred in his name.
Thanks for the reply.