Bill > SB119

This bill modifies Georgia's laws regarding manufactured or mobile homes, specifically addressing how and when such homes transition from personal to real property. Currently, a manufactured home is considered personal property until it is permanently affixed to land owned by the home's owner and a Certificate of Permanent Location is filed. The bill adds several important provisions that preserve the rights of lien holders and security interest holders even after a home is converted to real property. Specifically, the bill ensures that prior lien holders can maintain their original rights and remedies as if the home were still personal property, including the ability to remove the home from the property without the current property owner's consent if they are exercising their financial rights. The bill also allows lien holders and transferees to apply for new certificates of title, effectively treating the home as personal property during the process of enforcing their financial interests. These changes provide more flexibility and protection for financial institutions and individuals who have a financial stake in manufactured homes, ensuring they are not disadvantaged when a home transitions to real property status. The bill will become effective on July 1, 2025, and will apply to all contracts entered into on or after that date.

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https://www.legis.ga.gov/legislation/70039