Free Mobile Home Info
Home: Home Page: Content Page

Property Owners Agreement

My husband and I are trying to buy a double wide, my parents own the property that we were going to set the house on. Clayton and VMF want my parents to sign a property owners agreement and I was curious if that just meant if something happened the finance company had the right to go onto the land and reposess the trailer or can they put a lien against my parents property?

Comments for Property Owners Agreement

Average Rating starstarstarstarstar

Click here to add your own comments

Aug 26, 2011
land owned by parents
by: Anonymous

Probably the agreement is to allow them to reposses the home if you default. Read it carefully!

From a lenders' point of view, if you default then they will take the home back and try to sell it. It will not be worth as much on a truck than it is located on a nice patch of land. So, don't be surprised if this agreement states that the home cannot be moved and that your parents will need to allow someone to buy the home and live on the land if you default and they take the home back.

Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to YOUR Questions and Answers.