The minimum premium for this endorsement is $25.00.
This endorsement may be used for either an Owner’s Policy or Loan Policy. The endorsement is necessary in those cases in which the Policy includes not only the land but a manufactured housing unit (mobile home). Since by virtue of this endorsement the mobile home is being insured as part of the land, the deed and/or mortgage must specifically describe both the land and the mobile home by type and serial number and the necessary steps must be taken to make sure that the mobile home is taxed as real property. This will require the issuance of a “RP” tag which confirms that the mobile home is permanently affixed to the real property and taxed as realty.
It is also required that the Certificate of Title for the mobile home be obtained in the name of the insured owner and/or mortgagor in addition to being described in the deed and/or mortgage and any liens or encumbrances noted on the Certificate of Title must be satisfied in the same manner as mortgages and lien encumbering the title to the land.
It is strongly recommended that title to the mobile home be retired as part of the title transfer.