Manufactured Housing Law Update
Manufactured Housing Law Update – September 2017Read Time: 1 min
McGlinchey Stafford and the Manufactured Housing Institute (MHI) are pleased to bring you the Manufactured Housing Law Update. With content prepared by McGlinchey Stafford’s nationally-recognized consumer financial services team, the Update focuses on legal and regulatory actions in the manufactured housing industry.
This is the September update, which means school has started, even for those in the Northeast and for those of you that live in a climate with multiple seasons–other than hot and really hot–the leaves may be changing.
Speaking of Northeast locations, if you operate or own communities in Connecticut, there are proposed regulations that may have a substantial impact on the resale of homes by residents of your communities.
On the lending side, there are many bankruptcy decisions from around the country that are worthwhile reading, including some valuation cases. Also, if you are a lender, Montana has a statute addressing altering loan documents and how to correct errors contained therein. It is unclear why the legislation was necessary, but to summarize it, arts and crafts are not permitted.
Speaking of value, a court held that a consumer that bought a home and had it set up at her property, where it sat for 16 months before an attempt to revoke acceptance, had to pay for it.