If we are in an owner financingarrangement and thebuyer has defaulted, what is the process to evict them from our mobile home on a rented lot?

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If we are in an owner financingarrangement and thebuyer has defaulted, what is the process to evict them from our mobile home on a rented lot?

We have signed the title over to the buyer and are lienholders on the title. We have a signed promissory note stating if buyer defaults in a single payment the entire sum of principle and interest becomes due. The buyer is 3 months behind in making payments. We signed the agreement 2 years ago and only 6 payments have been made on time. Also, tax payment due for the current year is delinquent. What is the process to get them out of the mobile home and the title back in our name?

Asked on December 22, 2011 under Real Estate Law, Idaho

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you sold your mobile home to the buyer, you are not the landlord and cannot evict the buyer. What you can do is foreclose on any security that was placed for the loan evidenced by the promissory note that you have written about. If there was security for the loan, there would be a mortgage or a trust deed on the mobile home.

I suggest that you consult with a real estate attorney about the situation you are writing about. If there is no mortgage or trust deed for the loan, your option would be to sue under the promissory note that you have written about.


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