My question involves real estate located in the State of: West Virginia
I'm selling an older model mobile home to a buyer paying a down-payment and then monthly payments until paid off in full. Per the trailer park rules & regs. the title has to be in the new buyers name to stay on the lot, so I need to place a lien on it.
What is the best way to legally go about this process to protect us from non-payment? Can I include a clause in a document signed by both parties that states if buyer fails to make on-time payments, they forfeit any funds already paid and are subject to eviction?
I cannot find any information online about how this process works to create the lien safely and/or how one goes about reclaiming the trailer if the buyer does not pay. Any help is appreciated!
I'm selling an older model mobile home to a buyer paying a down-payment and then monthly payments until paid off in full. Per the trailer park rules & regs. the title has to be in the new buyers name to stay on the lot, so I need to place a lien on it.
What is the best way to legally go about this process to protect us from non-payment? Can I include a clause in a document signed by both parties that states if buyer fails to make on-time payments, they forfeit any funds already paid and are subject to eviction?
I cannot find any information online about how this process works to create the lien safely and/or how one goes about reclaiming the trailer if the buyer does not pay. Any help is appreciated!
Liens and Encumbrances: Selling an Older Mobile Home As Rent to Own with Lien Placed on Title
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