Changes in the law relating to titling of manufactured homes have recently been made in Missouri. This affects the way filing Chapter 13 bankruptcy alters or doesn’t alter your mobile home debt.
- 442.015.1 of the Missouri Revised Statutes now specifically state that “for the purpose of 11 U.S.C. § 1322 (b)(21), a manufactured home shall be deemed to be real property”. Under § 1322 (b)(2) of the Bankruptcy Code, “A Chapter 13 plan may modify the rights of holders of secured claims, other than a claim secured by a security interest in real property that is the debtor’s principal residence…”.
As a result of this new change, the Missouri legislature has made it impossible to modify the debt on manufactured homes in a Chapter 13 bankruptcy by declaring a manufactured home to be real property.
- 442.015 also sets forth the requirement of how a person goes about establishing their manufactured home as real property including:
- Meeting local building codes and manufacturer’s specifications when attaching the manufactured home to land;
- Providing the Recorder of Deeds an affidavit which sets forth basic information as to ownership;
- Recording requirements for the affidavit.
In summary, as a result of these changes, the Missouri legislature has set forth the proper procedures in establishing how a person takes a manufactured home from personal property to real property and declares that a debt on a manufactured home cannot be modified in a Chapter 13 bankruptcy.
Filing Chapter 13 Bankruptcy with RGG Law
If you need to file Chapter 13 bankruptcy, the bankruptcy lawyers at RGG Law can help. Contact us today for a free consultation.