Manufactured homes; limit retirement of title only to homes manufactured on or after January 1, 2000.
The implications of SB2040 are significant for property law in Mississippi. By permitting a clearer legal framework for the retirement of mobile home titles, the bill aims to resolve complexities surrounding property ownership and taxation. It establishes that once the title is retired, the manufactured home will be treated as a fixture of the real property for tax purposes. Moreover, homeowners will now be required to affirm that all applicable ad valorem taxes on both the home and the land have been settled. This ensures local tax authorities can accurately assess property values and tax liabilities, potentially increasing tax revenue from these properties.
Senate Bill 2040 amends Section 63-21-30 of the Mississippi Code of 1972, introducing regulations regarding the permanent retirement of titles for manufactured or mobile homes. This action can only be applied to homes manufactured on or after January 1, 2000. The bill allows the legal owners of a manufactured home, along with the real property to which it is affixed, to file an affidavit of affixation that must include specific details such as the manufacturer's information, legal property descriptions, and proof of ownership. The intent is to streamline the process of converting manufactured homes into real property by effectively merging their titles with the land they occupy.
The main points of contention around this bill could arise from concerns that it may inadvertently disadvantage owners of older manufactured homes or those unable to meet the requirements for title retirement. Critics may argue that limiting the retirement to homes manufactured after 2000 could exclude a significant portion of homeownership from benefits related to property taxation and claim processes. Furthermore, questions regarding the complexity and cost of filing the necessary affidavits and compliance with the new rules may also surface in legislative discussions.