HB 4028

Abstract

Creates the Conveyance and Encumbrance of Manufactured Homes Act and amends the Mobile Home Local Services Tax Act, the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, the Savings Bank Act, the Illinois Credit Union Act, the Residential Mortgage License Act of 1987, the Abandoned Mobile Home Act, the Illinois Vehicle Code, the Code of Civil Procedure, the Conveyances Act, the Residential Real Property Disclosure Act, the Mortgage Act, the Joint Tenancy Act, the Interest Act, the Motor Vehicle Retail Installment Sales Act, and the Retail Installment Sales Act. Establishes a statutory procedure for converting to real property manufactured homes that are affixed to real property and for the severance of manufactured homes from real property. Contains provisions regarding the definition of the term "manufactured home"; conditions that must be met to convey or voluntarily encumber a manufactured home as real property; filing and recording requirements for an affidavit of affixation and affidavit of severance; the effect of affixation and record notice on a perfected security interest in or lien on a manufactured home; notice requirements to the Secretary of State; the applicability of the Conveyance and Encumbrance of Manufactured Homes Act; filing requirements for the Secretary of State as to certificates of title and affidavits of affixation or severance; statutory requirements to properly surrender title to a manufactured home, surrender a Manufacture's Statement of Origin to a manufactured home, and to confirm conversion of a manufactured home as real property; and other matters. Effective July 1, 2010.