Bulletin: NJ000051
Dear Associates:
The New Jersey Department of Banking and Insurance has approved the ALTA 7, Manufactured Housing Endorsement, effective February 19, 2001. The charge for this endorsement is $50.00. This endorsement provides that the definition of "land" in the policy includes the manufactured housing unit located on the land.
A manufactured home (e.g. mobile home, modular home) may be deemed to be part of the insured "land" if permanently attached to the land. To issue the ALTA 7 endorsement you must do the following:
- You must confirm that the manufactured home is permanently attached to
the land. Such proof may be evidenced by removal of the axles and wheels,
setting on a permanent foundation and connection to sewer and water systems
where applicable. You may verify this by inspection, affidavit and survey,
or affidavit and pictures.
- You must verify that any motor vehicle title certificate has been cancelled.
You may do this by ordering a search from the Division of Motor Vehicles.
The owners name, address and driver license number will be required to order
the search. If the search discloses that the manufactured home is registered
with the Division of Motor Vehicles, the certificate of ownership must be
cancelled and any liens on the title certificate must be paid and removed
as liens.
- You must order a UCC search in both Trenton and the county in which the
land is located. If a UCC-1 is found that affects the manufactured home, it
must be satisfied of record.
- You must verify that the municipal tax assessor has assessed the manufactured
home as a real property improvement.
- You must be certain that the ownership of both the mobile home (manufactured housing unit/modular home) and the ownership of the land are in the same individual or entity.
A copy of the Manufactured Housing Endorsement (Form NJRB 5-64) is available through the references section at the end of this bulletin. A copy of the following Rate Manual pages are available through the New Jersey District Office:
- Title page showing effective date of February 19, 2001.
- Index to Endorsement pages iv and v.
- Page 45 of the Rate Manual adds a reference to this endorsement under Section
10.39.
- Forms page xi showing NJRB number 5-64.
Please replace the existing pages in your Rate Manual with the new ones.
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