The Uniform Law Commission (ULC) states manufactured housing is considered personal property in most states because its origins as a home on wheels (trailer) being towed led to its taxation and licensing as a vehicle, but new MH today generally moves only once?from the sales lot to the site. The Commission tells MHProNews the laws for converting manufactured housing to real property vary from state to state, but it?s Uniform Manufactured Housing Act (UMHA) modernizes state property law. ?The UMHA will benefit consumers by ensuring mortgage financing is available to qualified purchasers, and will benefit lenders, manufacturers, and dealers by providing a uniform regulatory system across all states that enact it,? the article says. For the full text, please click here.
(Image credit: CNNMoney)
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