Community closing & land change

[Selby]

We have several communities being sold in our area and the new owners are changing the use of the land. What happens in this case to the home owners AND the lienholders of the mobile homes? How are they compensated? Most of the homes in these type of parks are older and will probably be demolished rather than moved.

[Bill Fry]

If there on rented land they usually given a certain amount of time to move them.If they refuse you're evicted from the property.If their then abandoned the new property owner usually runs a trackhoe thru them and demolishs them for you.If you want it,move it within the time frame you're given(usually 6 months to a year)There is no compensation if you don't own the land.

[Selby]

Thanks Bill...but do you know if the owners of the community (rented land) are required to notify any lienholders of individual mobile homes? Do these lenders lose out on money owed them?

[Bill Fry]

I would think they would have to do a title search to notify the lienholder or titled owner.The lienholder would move it if he had an interst in it and the owner had abandoned or been foreclosed on.