When is a purchaser entitled to the keys to the mobile home that they purchased?
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When is a purchaser entitled to the keys to the mobile home that they purchased?
We signed an agreement to purchase stating that once $20,000 passed through the sellers hands/bank we the buyers we’re to get title of the mobile home promptly. Now said money has cleared the bank and they (the sellers) are telling us that we have to wait until the title transfers up here in PA from NC until we can say the house is ours and until we can move in. Is this right?
Asked on August 27, 2011 Pennsylvania
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
The problem with registering title with a mobile home's new owner is that it sometimes takes longer to do so than recording a grant deed with a county's recorder's office when real property is transferred.
To determine when you are entitled to the keys to the mobile home that you purchased, you need to carefully read the written purchase agreement for its purchase as well as the final escrow instructions in that these documents will set forth when you are entitled to the keys to the mobile home.
As in most agreements, the owner of the newly purchased item is entitled to the keys to the item purchased when legal title transfers from the old owner to the new owner.
If you do not have legal title to the mobile home in your name yet, it could be very well that you cannot have its keys until then under the final escrow instructions signed by all parties.
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