Q: A person lives in a mobile home on their land. If the person dies, can the mortgage co. for the home take the land?
The land is paid for and has a clear title. The mobile home is being paid out to a mortgage company.
A: You definitely want a competent attorney to conduct a title search, now. Usually the Financing Statement for the mobile home is just secured by the home. even if it is a UCC filing at the Register's Office. I have seen some very fraudulent Deeds of Trust recorded from mobile home sales many times before, so you have to check. Sometimes other properties besides the home are hypotecated. Normally the secured creditor of the home can repossess the home only. But once the note deficiency is known, the creditor can sue whoever signed the note. Then any notemakers' property is subject to execution.
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