Senate Bill 2740 Summary

• Allows manufactured home or mobile home owners to permanently retire titles to real property by filing an affidavit of affixation with the chancery clerk, after which the home is classified as real property for all purposes.

• Exempts manufactured homes whose titles have been permanently retired from registration requirements with the tax collector, provided the owner files an affidavit of severance if the home is later detached from the property.

• Establishes procedures for owners to sever retired titles from real property and obtain new certificates of title, and for documenting destruction or uninhabitability of retired homes through affidavits.

• Requires the Department of Revenue to maintain permanent records of all affidavits of affixation, manufacturer's certificates of origin, surrendered certificates of title, and affidavits of severance filed under the new process.

• Adds a $9.00 application fee to the Department of Revenue for retirement, destruction, or severance of manufactured home or mobile home titles under the new procedures.