Source: http://www.leg.state.vt.us/docs/legdoc.cfm?URL=/docs/2006/bills/intro/H-500.HTM
Timestamp: 2017-10-23 06:14:44
Document Index: 428964870

Matched Legal Cases: ['§ 1407', '§ 1408', '§ 6201', '§ 1409', '§ 1410', '§ 1411', '§ 5830', '§ 5830']

Introduced by Representatives Kiss of Burlington and Bostic of St. Johnsbury
Subject: Conveyances of mobile homes; secured transactions; income tax; charitable housing credit
Statement of purpose: This bill proposes to provide a statutory process for the conveyance and mortgaging of mobile homes and makes technical amendments to the charitable housing tax credit for affordable housing.
AN ACT RELATING TO MOBILE HOMES AND AFFORDABLE HOUSING
(2) the following statutes of this state: 9 V.S.A. § chapter 72 and 23 V.S.A. chapters 21 and 36; or
Sec. 2. 27 V.S.A. chapter 18 is added to read:
Chapter 18. Conveyances of Mobile Homes
§ 1407. APPLICATION OF REAL ESTATE LAWS
Mobile homes situated on land not belonging to the owners of the mobile home shall be deemed real estate for purposes of transfer, whether voluntary or involuntary, and shall be conveyed, mortgaged, or leased, and shall be subjected to attachment, other liens, foreclosure, and execution in the same manner and with the same formality as real estate.
§ 1408. MOBILE HOME
Mobile home, as defined by 10 V.S.A. § 6201, shall be deemed real estate for the purpose of this section when such mobile home is placed on a site and tied into required utilities. Any deed conveying a mobile home or evidencing its relocation within this state shall be substantially in the form provided in subdivisions (1) and (2) of this section. If a deed for any mobile home is recorded in the land records of one municipality of this state and if such mobile home is relocated to another site in that municipality or to a site in another municipality of this state, a deed evidencing the change of location shall be recorded in the land records of the municipality in which it was originally located, and a duplicate original shall also be recorded in the land records of the municipality to which it was relocated. If such mobile home is relocated to a site outside of this state, a statement evidencing the change of location substantially in the form provided in subdivision (3) of this section shall be recorded in the land records of the municipality in which it was previously located. An attachment, lien, or other encumbrance on a mobile home, when properly created and recorded as required by law, shall continue to be enforceable until released or discharged, notwithstanding the relocation of the mobile home within or outside this state.
(1) A deed in substance following the form provided in this subdivision shall, when duly executed and delivered, have the force and effect of a deed in fee simple to the grantee, heirs, successors, and assigns, to their own use, with covenant on the part of the grantor, for the grantor, the grantor's heirs, executors, and administrators that, at the time of the delivery of such deed, the grantor was lawfully seized in fee simple of the mobile home; that such mobile home was free from all encumbrances, except as stated; that the grantor had good right to sell and convey the same to the grantee, the grantee's heirs, successors, and assigns; and that the grantor and the grantor's heirs, executors, and administrators shall warrant and defend the same to the grantee and the grantee's heirs, successors, and assigns, against the lawful claims and demands of all persons. No owner of land shall unreasonably withhold the consent required by this statutory form.
Form for Mobile Home Warranty Deed __________of ____________ County, State of ________, for consideration paid, grant to__________ of ____________ Street, Town (City) of County, State of _________, with warranty covenants, the (description of mobile home being conveyed:
name of manufacturer, model and serial number and encumbrances, exceptions, reservations, if any) which mobile home is situated, or is to be situated, at _______________ (state name of park, if any, and street address), _________Town (City) of ___________ County, State of Vermont.
The parcel of land upon which the mobile home is situated, or is to be situated, is owned by _______________ by deed dated ____________ and recorded at Book ___, Page _____ in the land records of the Town (City) of ________._______ (wife) (husband) of said grantor, release to said grantee all rights and other interests therein.
Signed this ____ day of ______________, ___.
____________________, owner of the parcel of land upon which the aforesaid mobile home is situated, or is to be situated, hereby consents to the conveyance of the mobile home.
Signed this ___ day of _________, __.
[ ] Check box if the mobile home has been relocated from one site to another within Vermont. The mobile home was previously located at _________ (state name of park, if any, and street address), Town (City) of _________, ________County, State of Vermont and title, if any, to the same was recorded at Book , Page , in the land records of the Town (City) of __________. If the relocation is to a municipality other than the municipality in which the deed to the grantor was recorded, a duplicate original of the deed must be recorded in the land records of that municipality at the same time this deed is recorded.
(2) A deed in substance following the form provided in this subdivision shall, when duly executed and delivered, have the force and effect of a deed in fee simple to the grantee, heirs, successors, and assigns, to their own use, with covenants on the part of the grantor, for the grantor, the grantor's heirs, executors, and administrators with the grantee, the grantee's heirs, successors, and assigns that at the time of the delivery of such deed, the mobile home was free from all encumbrances made by the grantor, except as stated, and that the grantor and the grantor's heirs, executors, and administrators shall warrant and defend the same to the grantee and the grantee's heirs, successors, and assigns forever against the lawful claims and demands of all persons claiming, by, through, or under the grantor, but against none other. No owner of land shall unreasonably withhold the consent required by this statutory form.
___________, of ___________, County, State of __________, for
consideration paid, grant to ________ of _________ Street, Town (City) of ____ ,_ ____County, State of __________, with quitclaim covenants, the (description of mobile home being conveyed: name of manufacturer, model and serial number and encumbrances, exceptions, reservations, if any) which mobile home is situated, or is to be situated, at ________________ (state name of park, if any, and street address), Town (City) of _____________ County, State of Vermont.
The parcel of land upon which the mobile home is situated, or is to be situated, is owned by ____________ by deed dated _____________ and recorded at Book ___, Page , in the land records of the Town (City) of _________. _____ (wife) (husband) of said grantor, release to said grantee all rights and other interest therein. Signed this ___ day of ___, __.
___________, owner of the parcel of land upon which the aforesaid mobile home is situated, or is to be situated, hereby consents to the conveyance of the mobile home.
Signed this ___day of__ __, _____.
[ ] Check box if the mobile home has been relocated from one site to another within Vermont. The mobile home was previously located at_______ (state name of park, if any, and street address), Town (City) of ____________, _____________ County, State of Vermont and title, if any, to the same was recorded at Book _____, Page ____, in the land records of the Town (City) of __________. If the relocation is to a municipality other than the municipality in which the deed to the grantor was recorded, a duplicate original of the deed must be recorded in the land records of that municipality at the same time this deed is recorded.
(3) An out-of-state transfer statement in substance following the form appended to this subdivision shall, when duly executed and recorded in the land records of the municipality in which the mobile home was previously located, have the force and effect of transferring title of the mobile home to the grantee, the grantee's heirs, successors, and assigns and terminating the record title of the mobile home in such registry of deeds under circumstances by which the mobile home is relocated to a site outside this state. No owner of land shall unreasonably withhold the consent required by this statutory form. No mobile home may be relocated to a site outside this state unless all holders of liens, attachments, or encumbrances, if any, consent thereto in writing on the transfer statement.
__________, of _________, County, State of _______, for consideration paid, grant to ____________ of ____________ Street, Town (City) of _________, ________ County, State of ______, the ___________ (description of mobile home being conveyed: name of manufacturer, model and serial number and encumbrances, exceptions, reservations, if any) which mobile home, was situated at ,__ (state name of park, if any, and street address), Town (City) ________ of ________ County, State of Vermont. The parcel of land upon which the mobile home was situated is owned by _________ by deed _______ dated _________ and recorded at Book _____, Page ____ in the land records of the Town (City) of _____________. (wife) (husband) of said grantor, release to said grantee all rights and other interest therein.
Signed this _________ day of __________, _______.
__________, owner of the parcel of land upon which the aforesaid mobile home was situated, hereby consents to the conveyance of the mobile home.
Signed this _____ day of _______, __.
____________, holder of (lien, attachment, or encumbrance) hereby consents to the conveyance of the aforesaid mobile home, subject to condition that the aforesaid (lien, attachment, or encumbrance) shall remain in force and effect thereon.
Signed this ___ day of _________, ___.
§ 1409. INITIAL TRANSFER OF TITLE TO MOBILE HOME.
A deed, substantially in the form prescribed by subdivisions 1408(1) and (2) of this title, duly executed and delivered, shall be required to transfer title to any mobile home in a transaction occurring prior to connection of such mobile home to the required utilities.
§ 1410. ALTERNATIVE METHOD FOR MORTGAGES AND
As an alternative to the methods prescribed in section 1408 of this title for mortgages of and foreclosures and executions upon mobile homes, security interests in mobile homes may be created in the manner prescribed in Title 9A, Article 9. Such security interest, properly perfected in the manner prescribed in Title 9A, Article 9 shall be entitled to priority over any other interests in such mobile home arising after such perfection. A person holding a security interest in a mobile home shall have all the rights, remedies, and obligations provided in Title 9A, Article 9; subject, however, to homestead rights. In the event such homestead rights are not waived, a secured party foreclosing upon a security interest created under this section shall first pay to the debtor an amount equal to that which a person is entitled, and the same amount to his or her spouse, if any, out of the proceeds of the sale of the mobile home, which payment shall extinguish all homestead rights therein.
§ 1411. PARK OWNER SIGNATURE; FEE
Any mobile home park owner required to sign a deed under this section shall sign the deed no later than 15 days after the new tenant is approved and the park owner is requested to do so. The tenant shall deliver the deed to the mobile home park owner's place of business for a signature. The fee for any such signature on a deed shall not exceed $25.00 and shall be paid by the tenant.
Sec. 3. 32 V.S.A. § 5830c(c)(1)(A) and (C) are amended to read:
(C) The affordability of the unit or units shall be protected for a period of time not less than the term of any loan made pursuant to subdivision (d)(4) of this section for the unit or units or at least 40 15 years, whichever is greater through a housing subsidy covenants covenant or through other legally binding instruments instrument, which shall terminate upon the issuance of a judgment of foreclosure or a transfer of the property in lieu of foreclosure. Such rule may also include additional provisions consistent with this section.
Sec. 4. 32 V.S.A. § 5830c(d)(4) is amended to read:
(4) At least 70 percent of all investments subject to this section are disbursed within 12 months either for the acquisition, rehabilitation, or construction of affordable housing in Vermont by the eligible housing charity, or for loans for affordable housing in Vermont to other eligible housing charities or at an average rate of interest not more than two percent above the bank prime loan rate. Loans to individual borrowers in Vermont shall only be made to borrowers having no more than 80 100 percent of the greater of state or area median income, at an average rate of interest at or below the most recent bank prime loan rate.
This act shall take effect upon passage. Notwithstanding any prior statutory provision, financing statements filed in connection with manufactured home transactions filed since June 30, 2001 shall be deemed effective to perfect a security interest in the subject manufactured home.