As you begin to think about the future of your estate’s assets more seriously and begin drafting a comprehensive estate plan, you may be wondering how to go about leaving specific assets to your loved ones, and what you will need to do to ensure that your assets are protected and passed on properly after you are deceased. Your assets can include anything from jewelry, to property, houses, bank accounts, and more. One asset in particular that you may be curious about is your mobile home, and specifically, how to properly transfer the title of your mobile home.
Here at Trust and Will, we know how important it is to find the best way to transfer the title of your mobile home to your Beneficiary after you pass away. One day, your loved ones will grieve your passing and will have to come to terms with your absence. During this grief-stricken and emotionally-charged time in their lives, it would be best if their handling of your estate was as seamless and uncomplicated as possible. Making sure the transfer of your assets to your Beneficiaries is smooth and simple can be a much-appreciated gift to your loved ones during a very difficult time. That is why this article will address key points you need to know about transferring a mobile home title of a deceased person.
Keep reading to learn the answers to the following questions in regards to transferring the mobile home title of a deceased person:
How do I transfer a mobile home title when it is considered personal property vs real estate?
When you own a mobile home, it can either be considered personal property or real estate. A mobile home is considered personal property when you own only the mobile home and not the property upon which your mobile home sits. However, if you own both the property upon which your mobile home resides and your mobile home, then you are able to combine the two and classify it as real estate. Something can be considered real estate when the home you live on is a permanent residence, and if you own the land on which your mobile home lives, it can be considered a permanent residence.
It is important to understand if your mobile home is considered personal property or real estate because it will impact how you leave your mobile home in your Will or your Trust, as you will need to transfer it as either personal property or real estate. However, regardless of whether your mobile home is personal property or real estate, it will still have a title that needs to be transferred.
Can I transfer a mobile home without a Will or Trust?
It is critical to remember that the laws on transferring your title will vary from state to state, and that each state has its own specific rules and regulations that will need to be followed. However, in many cases if your mobile home is worth less than 10,000 dollars and the total net worth of all your assets combined is also below 10,000 dollars, you are able to skip probate court entirely and instead have the title transferred to its new owner by going to either the Secretary of State or DMV.
In these cases, your spouse will be the first person that the mobile home will go to. If you do not have a spouse, the mobile home will be transferred to the next of kin, which is often your children. However, if you want your mobile home to be transferred to someone who is not your spouse or child, it will need to be specified within a Will or Trust.
How do I transfer a mobile home title within a Will?
If your net assets are over 10,000 or you have a specific individual who is not a spouse or next of kin that you would like to give your mobile home to, you will need to Transfer it within a Will or a Trust. This section is specifically dedicated to transferring a mobile home title within a Will.
A Will, also referred to as the "last will and testament" forms the foundation of your estate plan and is a legal document that allows you to pass assets on to your loved ones, known as your beneficiaries. When writing your Will, you will be able to state to whom you would like to leave your mobile home. This person will then be able to have the title transferred to probate court. As noted previously, it will be important to specify if the mobile home is legally considered personal property or real estate, as if it is real estate there will most likely be additional paperwork that will need to be completed beyond the transfer of the title to pass on the asset.
How do I transfer a mobile home title within a Trust?
A Trust is a legal arrangement that allows you to pass on assets, however, in this form of estate planning, you will appoint a trusted person, or perhaps a professional, to be your trustee. Your Trustee will maintain the responsibility of managing your assets until you die, at which point it will be passed on to your beneficiary. Often, transferring a mobile home title that was placed in Trust is a good option for those whose net worth is upwards of 100,000 dollars. Additionally, it is more common for a mobile home and the land it sits on to be considered real estate when it is left in Trust.
When a mobile home is left in Trust, the transfer of its ownership to the beneficiaries is much quicker. Beneficiaries will have the advantage of avoiding costly and time-consuming probate proceedings because the estate documents needed to prove the new rightful owner will have been legally documented in advance and spelled out in the Trust.
Have more questions about estate planning when you own a mobile home? Be sure to check out the other articles in our mobile home series:
While it may take considerable thought to determine the best way to have your mobile home title transferred to a new beneficiary, the creation of your estate plan does not have to be complicated. At Trust & Will, we’re here to help keep things simple. You can create a fully customizable, state-specific estate plan from the comfort of your own home in just 20 minutes. Take our free quiz to see where you should get started, or compare our different estate planning and settlement options today!
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Trust & Will is an online service providing legal forms and information. We are not a law firm and we do not provide legal advice.
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