We are currently involved in a park conversion project where the homeownwers are buying their lots from the park owner.
We have encountered numerous issues where the homeowner does not legally own the home.
This arises when the homeowner purchases the home and no one ever followed thru on the title issues.
We have cases where the homeowner bought the home for cash and the title for the home was never transfered to their name.
We have issues where the home was financed at purchase and paid off after some years and the lien was never removed from the title.
We have issues where the loan was sold to another bank and the lienholder was never changed on the title and the original bank is no longer in business.
We have issues where a bank bought the first bank and never changed the lien holder to the new banks name.
We have issues where a homeowner bought a home from a private owner with the private owner holding the note, then the private owner dies and has an executer forgive the debt,the problem is that it was never done legally, now the buyer has no way to prove this.
As you can see it is very important to follow up and make sure that your home is in fact your home.
Just because your name is on the Registration does not mean it is on the Title,check it out.