Property Ownership
In Arkansas, a manufactured home placed on a permanent foundation and titled as real property is treated as:
APersonal property regardless of the foundation
BReal property once it is affixed and the title converted from a vehicle title to a real property deed✓ Correct
CA fixture but not real estate
DExempt from all property taxes
Explanation
In Arkansas, a manufactured home that is permanently affixed to a foundation and whose title has been surrendered and converted to a real property deed is legally treated as real property and may be mortgaged like other real estate.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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