Updated over 7 years ago on . Most recent reply
Eliminate Title on Mobile Home?
I am buying a property that includes both a stick-built home as well as a mobile home. I have to decide whether to keep title on the mobile or eliminate title. I'm not sure of the advantages or disadvantages. Any thoughts???
As I understand it, keeping title separate on the mobile (like a vehicle) keeps my purchase price associated strictly with the land and stick-built home. Could I potentially value the mobile for $100k (current value) and then sell it and have it remove for maybe $10k and claim a loss? That could be a nice advantage!
Appreciate your input!