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Committee advances bill clarifying lien treatment when manufactured homes convert to real property
Summary
House Bill 377 would clarify that a lender’s lien remains enforceable when a manufactured home’s certificate of title is surrendered and the unit is recorded as real estate, streamlining conversions and encouraging lending in the manufactured housing market, lawmakers said.
Rep. Rob Leverett presented House Bill 377 to the Banks & Banking Committee, saying the bill clarifies how liens on manufactured housing are treated when a certificate of title is surrendered and the unit is converted to real property.
"This statute...allows you to surrender your certificate of title and record a certificate of permanent location in the real estate records," Leverett said, describing existing law and the bill’s proposed clarification that a lender's lien would be preserved and enforceable even after conversion…
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