Who carries the title?

[alexmorrow]

Who carries the title in a Lonnie deal? Me or the tenant? I spoke to a park owner today who carries the title so she is aware of all the taxes that are owed n stuff.

[Debbie]

Jim Johnson can correct me if I'm mistaken...

My understanding is that once you fully purchased the mh, you take the title.

During the Jim Deal (ie Lonnie Deal), you hold the title until the buyer finished the loan.

BTW---you mentioned "tenant". Are you planning on renting it out rather than Jim Deal?

[Jim Johnson]

Jim Johnson can correct me if I'm mistaken...

My understanding is that once you fully purchased the mh, you take the title.

During the Jim Deal (ie Lonnie Deal), you hold the title until the buyer finished the loan.

BTW---you mentioned "tenant". Are you planning on renting it out rather than Jim Deal?

The lender holds the title... in Colorado at least...

[alexmorrow]

Ok, thanks guys! i learn so much every day.