Mobile home
Ownership
Unlike
a house which is considered to be Real
Property,
and for which a title registration system exists, a Mobile Home is
considered
to be Personal Property, and there is no system of title registration. As
such, one's ownership of a mobile home is
not "certified" but is simply based on previous contractual dealings,
much like that of an automobile.
Accordingly, it is impossible
to ever determine conclusively
that one's
ownership in a mobile home is 100% secure.
The best that can be done is
to investigate the Seller's claim
to
ownership and ask the Seller to convey such ownership together with
proper
assurances.
This is done in the form of
a Bill of Sale, and such other documents as are appropriate.
Liens
As
with ownership, it is impossible to ever
determine
conclusively whether liens exist against a mobile home.
A system called the Persona
Property
Registry exists and anyone claiming an interest in a mobile home must
register
it there in order to ensure priority.
However, unregistered liens
while losing priority to registered
liens,
may still exist as valid liens providing they can be proven.
Possession
and Keys
While
there is some disagreement among lawyers
and
Realtors as to what time of day a purchaser is entitled to take
possession, it
is generally accepted that the seller can move out on the day of
possession.
As a result, you should
arrange for movers, deliveries, etc., to arrive at a time when you know
the
home will be vacant.
The practical
thing to do is speak to the seller directly regarding his or her moving
plans.
If you wish to change the
possession date,
and the seller is agreeable, please advise us of the new date and we
will make
the necessary arrangements with the seller's lawyer.
The
exchange of keys does not follow any
definite
pattern.
Sometimes keys are exchanged
through the lawyers, sometimes through real estate agents, and
sometimes
between the seller and buyer directly.
If you have not arranged for
the exchange of keys directly form
the
seller by the time you attend at our office for closing, we will
endeavor to
obtain the keys for you.
Home Insurance
You
must arrange for home insurance. Do
it well in advance of possession
date.
Coverage must be effective as
of
the date you expect to receive keys.
If
there is to be a mortgage on your home, you
must ensure
that the amount of coverage is at least as high as required by the
mortgage
lender.
"Loss Payable" must
be in favour of the mortgage lender, so be sure to provide your
insurance agent
with the full name and address of your mortgage lender.
Written confirmation of
insurance coverage
must be sent to our office prior to possession.
Utilities
Utilities should be arranged by you, and in order to assist we provide the following telephone numbers for you to call. You will receive further instructions upon calling each utility.
Centra
Gas Company.
480-5900
Hydro (central
Winnipeg)
927-9500
Manitoba
Hydro (rural and suburban Wpg.)
474-4990
City of Winnipeg Waterworks 986-5858
We recommend that you write down all meters readings after calling them in to the utility companies. Keep all readings for at least a month in case they are misplaced by the utility companies.Closing Appointment
You
should call our office no later than two
weeks before
possession date to set up our closing appointment.
The closing appointment
should be scheduled to take place at
least two working days before the date you expect to receive keys. At
that time you will sign such documents as
may be required, and will remit the funds which are required to close
the
purchase transaction.
Funds
The
funds which you will remit upon your closing
appointment will consist of the balance of your down payment together
with all
applicable adjustments and closing costs.
We will estimate this amount
once we have received the necessary
information and will advise you of the amount prior to possession date.
We
have enclosed an explanation of closing costs
and
adjustments.
It is useful but not
essential for you to understand how the various adjustments and closing
costs
work, as we will do all the necessary calculations.
It is important however, for
you to have a rough idea of how
much
money you will need and to have sufficient funds available as of
possession.
If you have any reservations
at all or feel
you need further explanation, we strongly recommend you make an
appointment
with out office immediately, and we will take you through a detailed
analysis
of adjustments and closing costs. There
is no extra charge for this interview.
The
funds which you remit at your closing
appointment will
be an estimated amount.
Final figures
will be available only upon completion of Land Titles Office
registrations and
may result in either a refund to you or a balance owing to our office.
The
funds which you remit must be in the form of
a CERTIFIED
CHEQUE or BANK DRAFT payable to Timothy A. Martin, Barrister and
Solicitor.
Final Report on Title
Upon
completion of Land Titles registrations and
the
payment of all funds required, we will provide our final report to you. The
final report consists of a 4 - 5 page
letter which summarizes the transaction, accompanied by copies of
various
documents.
It is important that you
retain it in safekeeping for future reference.
You should expect to receive
the final report between one and
two months
after possession date.
Summary
To
summarize, you must do the following things
prior to
receiving keys and possession:
1.
Arrange home insurance, and
ask
the agent to send us confirmation;
2.
Attend our office to:
a) Provide your certified
cheque or bank draft;
b) Sign all required
documents.
Remember that you will not receive keys at the time you bring in your funds and sign documents, but rather only after we have courier funds and our trust condition letter to the seller's lawyer. That is why we ask that you attend at least a couple of days before you expect to receive possession.
Your Next Step
Thank
you for reading the foregoing.
If you have not done so, we
would ask that
you call our office to confirm how you wish your name to appear on
title and to
provide certain information we require.
From
the desk of Timothy A. Martin, Barrister
and
Solicitor