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Two completely different types of loans. On leased land the home is personal property and gets a chattel loan which will typically have a higher interest rate and shorter term. If the home is permanently affixed to privately owned land and the title eliminated
it becomes real property and can get more conventional deed of trust type financing.</div>
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Years ago I was a GM of a dealership in Dallas and "deed in lieu" deals like this are very common in the industry. My advice would be don't put boyfriend on title even if that means a chattel loan (or no house) is the only option. If he insists, carve off
one acre (or the smallest chunk zoning will allow) to give to her. Make sure it's on the periphery of the 40 lots with direct road access and not anywhere in the middle with an easement through the parent parcel. </div>
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And be ready to bid on it when it eventually goes to foreclosure.</div>
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<span style="font-family: Calibri, sans-serif; font-size: 11pt; color: rgb(0, 0, 0);"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com> on behalf of Drayna, Paul S. <pdrayna@helsell.com><br>
<b>Sent:</b> Thursday, February 13, 2025 1:41 PM<br>
<b>To:</b> wsbarp@lists.wsbarppt.com <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBARP] Family Financing</span>
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>From <span style="line-height: 20px;"><a href="https://godaddy.cloud-protect.net/email-details/?k=k1&payload=53616c7465645f5f207b12b2914d81416c9725ad8fc8e5e7d4a0922d563b47a507c2fe395ba6cff01342aa131d9281b5d3d4140801028a6e6c1b65a698933aab3fd723c51bf7390e353a3148b78041155ba0c5cd69d8cff2ae92c204c6604ed914816bcf7bd7b6139a7b16a6e7cab869f9ae3fbbbd5cb10b01770e938bf8f80979878f83f4dd28346dc00f78825152783febb4b7ef6c7beb51bc2a2e8aad47ddc69ffe8462074f42038b29aa1d2072202835dc2a33b76811efcab7c5b6260807f23b5c7a5cae743cfa028b601fc92a83925b1790847538986389b309452ceb041471470bf014fba74243c364f23161aa" id="OWA36c1809b-9025-1a04-94a8-05a44873d8b2" class="OWAAutoLink" data-auth="NotApplicable" style="color: rgb(0, 0, 0); text-decoration: none;">("Drayna,
Paul S." <pdrayna@helsell.com>)</a></span></div>
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<b>Potential Impersonation</b></div>
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<span style="font-family: Aptos, sans-serif; font-size: 11pt; color: rgb(0, 0, 0);">Many (most) mobile homes end up in parks where the owner of the home does not own the land – they lease it. Would lender accept a long term lease instead of adding borrowers
to title?</span></p>
<div style="margin: 0px; padding: 16px;">
<p style="margin: 0in; font-family: Arial, sans-serif; font-size: 10pt; color: rgb(7, 19, 32);">
<span style="font-family: Aptos, sans-serif; color: rgb(0, 0, 0);"><b>Paul S. Drayna</b> |
</span><span style="font-family: Aptos, sans-serif; color: rgb(68, 114, 196);"><b>Helsell Fetterman LLP</b></span></p>
<p style="margin: 0in; font-family: Arial, sans-serif; font-size: 10pt; color: rgb(7, 19, 32);">
<span style="font-family: Aptos, sans-serif; color: rgb(0, 0, 0);">Attorney | Of Counsel</span></p>
<p style="margin: 0in; font-family: Arial, sans-serif; font-size: 10pt; color: rgb(7, 19, 32);">
<span style="font-family: Aptos, sans-serif; color: rgb(0, 0, 0);">800 Fifth Avenue, Suite 3200</span></p>
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<span style="font-family: Aptos, sans-serif; color: rgb(0, 0, 0);">Seattle, WA 98104</span></p>
<p style="margin: 0in; font-family: Arial, sans-serif; font-size: 10pt; color: rgb(7, 19, 32);">
<span style="font-family: Aptos, sans-serif; color: rgb(0, 0, 0);">Direct: 206.689.2177</span></p>
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<span style="font-family: Aptos, sans-serif; color: rgb(5, 99, 193);"><u><a href="mailto:pdrayna@helsell.com" id="OWAaa328946-79d2-1029-2b5f-ab1f2e769257" class="OWAAutoLink" style="color: rgb(5, 99, 193); margin-top: 0px; margin-bottom: 0px;">pdrayna@helsell.com</a></u></span></p>
<p style="margin: 0in; font-family: Arial, sans-serif; font-size: 10pt; color: rgb(7, 19, 32);">
<span style="font-family: Aptos, sans-serif; color: rgb(0, 0, 0);"><i>he/him pronouns</i></span></p>
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<span style="font-family: Aptos, sans-serif; color: rgb(0, 0, 0);"><i> </i></span></p>
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<span style="font-family: Aptos, sans-serif; color: black;"><i>This e-mail may contain confidential information which is legally privileged. The information is solely for the use of the addressee(s) named above. If you are not the intended recipient, please
notify us by return e-mail and delete this message. Thank you.</i></span></p>
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<span style="font-family: Calibri, sans-serif; font-size: 11pt; color: rgb(0, 0, 0);"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>marka@mbaesq.com<br>
<b>Sent:</b> Thursday, February 13, 2025 11:20 AM<br>
<b>To:</b> WSBA Real Property Listserv <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBARP] Family Financing</span></p>
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<span style="color: rgb(0, 0, 0);">The e-mail message that is shown below had a DKIM signature which failed to be validated. This could indicate the message is spoofed.</span></p>
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<span style="font-family: Aptos, sans-serif; font-size: 12pt; color: red;"><b>[EXTERNAL MESSAGE]</b></span></p>
<p style="margin: 0in 0in 10pt; font-family: Arial, sans-serif; font-size: 10pt; color: rgb(7, 19, 32);">
<span style="color: rgb(0, 32, 96);">Dear Colleagues:</span></p>
<p style="margin: 0in 0in 10pt; font-family: Arial, sans-serif; font-size: 10pt; color: rgb(7, 19, 32);">
<span style="color: rgb(0, 32, 96);">Client owns 40 acres of vacant real property. Client's daughter (D) and her boyfriend (B) want to purchase a mobile home and place it on the property. Client is okay with this. However, to get financing for the mobile
home, prospective lender requires that both D and B be on title to the property (D cannot get financing on her own).</span></p>
<p style="margin: 0in 0in 10pt; font-family: Arial, sans-serif; font-size: 10pt; color: rgb(7, 19, 32);">
<span style="color: rgb(0, 32, 96);">Client is understandably reluctant to bring B onto title. And Client does not want to cosign for the loan.</span></p>
<p style="margin: 0in 0in 10pt; font-family: Arial, sans-serif; font-size: 10pt; color: rgb(7, 19, 32);">
<span style="color: rgb(0, 32, 96);">Any suggestions as to how to proceed?</span></p>
<p style="margin: 0in 0in 10pt; font-family: Arial, sans-serif; font-size: 10pt; color: rgb(7, 19, 32);">
<span style="color: rgb(0, 32, 96);">Thanks.</span></p>
<p style="margin: 0in 0in 12pt; font-family: Arial, sans-serif; font-size: 10pt; color: rgb(7, 19, 32);">
<span style="color: rgb(0, 32, 96);"><b>Mark B. Anderson<br>
</b>ANDERSON LAW FIRM PLLC<br>
821 Dock St Ste 209 PMB 4-12<br>
Tacoma, Washington 98402<br>
+1 253-327-1750<br>
+1 253-327-1751 (fax)<br>
<u><a href="mailto:marka@mbaesq.com" id="OWA328c6769-bc5f-e245-88a5-b82bb247249f" class="OWAAutoLink" style="color: rgb(0, 32, 96); margin-top: 0px; margin-bottom: 0px;">marka@mbaesq.com</a></u><br>
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<span style="font-family: "Arial Narrow", sans-serif; color: rgb(0, 32, 96);"><b>CONFIDENTIALITY NOTICE<br>
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