HCS HB 1474 -- CONVERSION OF MANUFACTURED HOMES

SPONSOR:  Cunningham, 145 (Cunningham, 86)

COMMITTEE ACTION:  Voted "do pass" by the Special Committee on
Financial Institutions by a vote of 8 to 0.

This substitute establishes procedures for converting a
manufactured home to real property or from real property back to
personal property.  In its main provisions, the substitute:

(1)  Requires a manufactured home to be permanently affixed to a
permanent foundation to qualify as real property and requires an
affidavit to the affixation;

(2)  Requires the owner to notify the county assessor when a
manufactured home is converted to real property or back to
personal property and requires the certificate of title to be
filed with the Director of the Department of Revenue;

(3)  Allows a manufactured home once deemed to be real estate to
be governed by the laws applicable to real estate; and

(4)  Requires an affidavit of severance when a manufactured home
is removed from its permanent foundation stating the property
description and any information that could affect the validity of
the title to the manufactured home or the existence of a security
interest or lien.

FISCAL NOTE:  No impact on state funds in FY 2009, FY 2010, and
FY 2011.

PROPONENTS:  Supporters say that the bill will help consumers who
purchase manufactured homes by allowing this property to be
treated as real property so that lenders will allow mortgage
loans to be made.  Currently, manufactured homes are treated as
personal property so you cannot get a mortgage.

Testifying for the bill were Representative Cunningham (86);
Missouri Bankers Association; Missouri Financial Services
Association; Mortgage Bankers Association of Missouri; Missouri
Manufactured Housing Association; Missouri Land Title
Association; and Missouri Association of Realtors.

OPPONENTS:  There was no opposition voiced to the committee.

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:10 pm