Putting a Lien on a Mobile Home

[LP31]

Georgia

I own a 2 mobile homes within a mobile home park in Georgia. I lived in one and my wife's mother in the other. I have bought a new home and want to sell both of these homes. I do not want to owner finance them because of dodd frank laws and safe act requirement only allow one owner finance per year.

I have two interested buyers who would both like to purchase these homes on payments. Could I sell these homes for a down payment then put a lien on the property from the remaining money unit its paid? I know that this is how many equipment and other costly item companies do business. I believe that the lien is a called a " Purchase-Money Security Interest Lien".

If I can do this, how do you file a lien? I have never filed a lien before. I found a form online called the "UCC FINANCING STATEMENT"? Is this what you use?

 

[adjusterjack]

Could I sell these homes for a down payment then put a lien on the property from the remaining money unit its paid?

You'd still be owner financing. Trying to spin it by calling it something else won't change that fact.

I do not want to owner finance them because of dodd frank laws and safe act requirement only allow one owner finance per year.

You might want to study that a bit further. According to the following article you might fall into the "three property" exception or you can have your buyers form an LLC and sell it to the LLC.

https://barneswalker.com/seller-financing-restrictions-under-the-dodd-frank-act/
Or, you can find buyers who qualify for their own loans.

 

[xylene]

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