Securing financing for a mobile home in Florida can be challenging due to limited options. Traditional mortgage lenders may be hesitant to provide loans for mobile homes, leading buyers to explore alternative lending sources. These may include specialized manufactured home lenders, credit unions, or home manufacturers.
Chattel is any tangible personal property that is movable. Examples of chattel are furniture, livestock, bedding, picture frames, and jewelry.
LTO MEMORANDUM CIRCULAR NO. 17 of the said manual of operations provides that “In all dealings or transactions on motor vehicles, a chattel mortgage or release thereof shall first be registered with the office of the Register of Deeds before any registration transaction is effected.”
By chattel mortgage, personal property is recorded in the Chattel Mortgage Register as a security for the performance of an obligation. If the movable, instead of being recorded, is delivered to the creditor or a third person, the contract is a pledge and not a chattel mortgage.
A chattel mortgage shall not be valid against any person except the mortgagor, his executors or administrators, unless the possession of the property is delivered to and retained by the mortgagee or unless the mortgage is recorded in the office of the register of deeds of the province in which the mortgagor resides at ...
Copies of recorded deeds and mortgages related to Broward properties are available online at the Broward County Records Division website. You may search for deeds, mortgages, liens, release of liens, court judgments, condo declarations, and various other recorded documents on their website.
Online via an Official Records portal: Most Florida circuit clerk offices provide an Official Records Search portal on their websites, which interested persons can access to find liens on a property, including tax liens registered by taxing authorities.
You may also contact the Broward County Call Center at 954-831-4000 for further assistance. If you are not able to locate a copy of the survey, you should contact a survey company for information about obtaining a new survey for your property.
After filing the “Notice to Owner,” the official lien is to be filed within 90 days of the final furnishings of service or 90 days from the termination of the contract between the general contractor and the owner, whichever comes first.
The Bottom Line Chattel mortgages are a little-known but potentially good option if you're looking to finance a manufactured home or heavy equipment. These loans are smaller than conventional loans and tend to have higher rates, but they have shorter terms and quicker payoffs.