I won a tax auction in Texas for a property a little over an acre with a Mobile Home on it. The Mobile Home number is on the deed. The property is still within the redemption period, but I'd like to put insurance on it. I tried and the agent said they'd need my name on Title to issue a policy. I have the deed, but no title. Does anyone know what I can do? What do y'all typically do for properties purchased at a Texas tax auction still in the redemption period? Thank you for your time.
@Brown Malo You have to be careful with mobile homes at tax auctions. Sometimes they sell the land and mobile together, sometime separately, so you have to find out what you bought.
Sounds like you bought both, but you have to find out or know what you bought.
Mobiles here in Texas can be real property or personal property. You can check with TDHCA or your title company to see if it is real (joined with the land) or separate. If real property, you'll probably just want to get that documentation from TDHCA and then give it to your insurance company. Real property has to be tied to a foundation and more or less permanently installed, wheels taken off and tongue/hitch removed. Typically they'll only do this once when it is installed. You may be able to get it turned into real property with TDHCA since it has gone through foreclosure, but not always easy to do and they won't always do it. A good title company that regularly deals with MH may be able to help you do all this, for a fee of course.
Chances are you will need to do all this or find it out if you ever want to sell.
i asked this same question for some tax liens i bought. I was hoping there was some equivalent to Force place insurance that I purchase for notes but I was told it doesn't exist for tax liens. I am guessing your deed case isn't much different. If I am incorrect, I hope someone will educate me because that is still an ongoing question for me.
@Brown Malo Yes, that's correct. The insurance company won't insure it without your name on the title. Since you're still within the redemption period, you'll just have to wait it out. Once the redemption period is over and your able to have ownership of the property (if the taxes were not paid up by the owner and they didn't re-claim the property back), then you can take the necessary steps to obtain title to the property. Hope that helps!
My suggestion is to first determine if the mobile home was personal property or real property. If personal, you are not the owner. Most mobiles in Texas are personal as the owners had to declare it real and take the necessary steps.
@Brown Malo You have to be careful with mobile homes at tax auctions. Sometimes they sell the land and mobile together, sometime separately, so you have to find out what you bought.
Sounds like you bought both, but you have to find out or know what you bought.
Mobiles here in Texas can be real property or personal property. You can check with TDHCA or your title company to see if it is real (joined with the land) or separate. If real property, you'll probably just want to get that documentation from TDHCA and then give it to your insurance company. Real property has to be tied to a foundation and more or less permanently installed, wheels taken off and tongue/hitch removed. Typically they'll only do this once when it is installed. You may be able to get it turned into real property with TDHCA since it has gone through foreclosure, but not always easy to do and they won't always do it. A good title company that regularly deals with MH may be able to help you do all this, for a fee of course.
Chances are you will need to do all this or find it out if you ever want to sell.
@Brown Malo You have to be careful with mobile homes at tax auctions. Sometimes they sell the land and mobile together, sometime separately, so you have to find out what you bought.
Sounds like you bought both, but you have to find out or know what you bought.
Mobiles here in Texas can be real property or personal property. You can check with TDHCA or your title company to see if it is real (joined with the land) or separate. If real property, you'll probably just want to get that documentation from TDHCA and then give it to your insurance company. Real property has to be tied to a foundation and more or less permanently installed, wheels taken off and tongue/hitch removed. Typically they'll only do this once when it is installed. You may be able to get it turned into real property with TDHCA since it has gone through foreclosure, but not always easy to do and they won't always do it. A good title company that regularly deals with MH may be able to help you do all this, for a fee of course.
Chances are you will need to do all this or find it out if you ever want to sell.
Good luck.
Hey, thank you for all this info. I truly appreciate your help and will follow through on your recommendations.