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fixanything
Jun 6, 2008, 07:01 PM
MY son lives in a mobile home on his property. The mobile home is in my name. I want to give it to him as a gift. (Put it in his name), but I want to put some kind of lien on it so he cannot sell it or be taken for some unfore seen reason. We live in Ohio. How do I go about doing this, and what form would I use to draw it up and get it recorded?
Thanks fixanything

Fr_Chuck
Jun 6, 2008, 07:07 PM
You sell it to him, but hold a loan on the home. Decide on the amount and write up a loan document. Then when you sign over the title, you list yourself as the lien holder on the title, So when the new title is listed, you will be listed as the lien holder, so he can not sell it, unless you are paid off first.

That does not mean he can not sell it, but if he did, he would have to sell it for enough money to pay you off.
Or you can put it in both of your names, that way, it can not be sold without both of you to sign.

twinkiedooter
Jun 7, 2008, 04:26 PM
If you put the home in both your names you will be equally liable for the yearly real estate taxes on the home plus he can't sell it without your notarized signature on the title. At least if your name is on the title you will know if the yearly taxes are paid on it.