Changes in the law relating to titling of manufactured homes have recently been made in Missouri. These laws affect a mobile home owner’s potential bankruptcy claim. RGG Law bankruptcy lawyers explain.
- 442.015.1 of the Missouri Revised Statutes now specifically state that “for the purposes 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 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.
Contact the Bankruptcy Lawyers at RGG Law to See if Bankruptcy Is Right for You
Unfortunately, not even bankruptcy lawyers can help you file a Chapter 13 bankruptcy to diminish mobile home debt, but filing bankruptcy still might be right for you. Only expert bankruptcy lawyers can tell you whether your situation merits a Chapter 13 bankruptcy or a Chapter 7 bankruptcy. Contact the RGG Law bankruptcy lawyers for a free consultation today.