Property Management
South Dakota's Rapid City has significant manufactured home (mobile home) parks. In these parks, residents who own their homes typically:
AOwn both the home and the land beneath it
BOwn the manufactured home but lease the land (lot) from the park owner✓ Correct
CRent both the home and land from the park owner
DHave a cooperative ownership interest in the park's land
Explanation
In most manufactured home parks, residents own their individual manufactured homes but lease the land (lot) on which the home sits from the park owner. This creates a unique tenure situation.
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