Carlsbad Lawyers Assisting Mobile Home Park Conversion to Ownership
Converting Mobile or Manufactured Home Parks to Resident Ownership
Converting a mobile or manufactured home park to resident ownership can be a monumental task, but the experienced attorneys at Loftin | Bedell, P.C., have converted approximately 90 communities to resident ownership over the past 30 years. Let our experience be your guide.
Mobile home parks can be converted to:
- Resident ownership as traditional subdivisions
- Condominium overlays (air space condominiums)
- Limited equity housing cooperatives (501(c)(3) entities)
- Corporate ownership
Each method involves distinct processes and governmental requirements. And each process has distinct pluses and minuses. Our Carlsbad mobile home park conversion attorneys will guide you through each to assist in understanding and completing the processes.
Representing Resident Associations, Park Owners and Local Jurisdictions
Our attorneys have assisted resident associations or groups, park owners, and local jurisdictions (cities and counties) in the conversion process. Whether you own the park or are a tenant in the park, the laws on conversions are clearly set forth and can be used for a mutually beneficial park conversion.
For park owners, a conversion may preserve the quality of the park while allowing you a long-term exit strategy from ownership. Preserving or enhancing the value of the park, the quality of life for the residents and long term planning are key benefits to a conversion.
For residents, a conversion provides an opportunity of true real estate ownership, potentials for appreciation in value, tax benefits and ultimately, the decision making authority over the community. When presented with a conversion, residents often become concerned about their rights to remain in the park if they decide not to purchase; but such fears can easily be overcome when residents understand their rights and know that they have every right to remain in the park.
For local jurisdictions, a conversion provides an opportunity, depending upon the circumstances, to ensure a long term affordable housing option, to stabilize housing costs for seniors, to provide entry housing for families, to end long term litigation and disputes regarding rent control, to provide the benefits of true property ownership and community control to the residents, and to provide the opportunity and ability to repair and maintain the properties by upgrading the mobile home park and the homes, among other benefits.
As conversions are complex and each method of conversion brings unique processes and issues, please see our FAQ Park Conversions page for more details about the different conversion types and commonly asked questions.
Contact Our San Diego Park Conversion Attorneys
For more information, or to schedule an appointment to discuss your conversion needs, please contact a Carlsbad mobile home park conversion lawyer.