Specialty areas: manufactured homes, timeshares, and other specialties

Identify what is being transferred

Specialty transactions begin with the interest, not the property's appearance. For a manufactured home, distinguish ownership of the dwelling from ownership or rental of its site. A home in a park may be owned by its occupant while the land is rented. Investigate the home's title or registration, liens, installation status, site rights, and transfer requirements. Attachment alone is not a safe basis for declaring that the home and land transfer together.

Time-share interests in California

California distinguishes a time-share estate, which couples occupancy with a freehold estate or an estate for years with a future interest, from a time-share use, which does not include either qualifying estate. A time-share estate is a separate real property interest for title and tax purposes. A time-share plan generally provides recurring rights for less than a full year during a given year, over more than one year; the years need not be consecutive.

A single site plan concerns one property. In a multisite plan, a specific interest combines rights at a particular property with rights at other component sites. A nonspecific interest provides access to multiple sites without a specific right to particular accommodations. A reservation system allocates accommodations among competing purchasers. A voluntary exchange program is a different concept. Neither a points label nor an exchange membership proves ownership of real estate or availability of a particular vacation.

Regulation and practical review

California's Vacation Ownership and Time-share Act reaches plans with California accommodations and also plans offered to individuals located in California, subject to its scope and exemptions. Read those limits before applying a rule: for example, the Act exempts plans with ten or fewer interests and plans whose use extends three years or less, counting renewals and renewal options when determining the term. The developer remains responsible for offering activities conducted through sales and marketing entities. An assessment is a purchaser's share of common expenses. An exchange program's historical confirmation percentage does not establish the probability of obtaining a particular destination or date.

In manufactured housing, review the dwelling and site arrangements together. In business opportunities, distinguish business assets, goodwill, and any real estate or leasehold involved. Agricultural and commercial specialties likewise require attention to the particular rights, permitted uses, operating costs, and transfer documents. Before accepting an unfamiliar assignment, work with the responsible broker to obtain the competence and specialist assistance it requires.