For those navigating the process of securing ownership of a manufactured home in Michigan without a clear record of ownership, the Michigan Department of Licensing and Regulatory Affairs necessitates the submission of a Uniform Surety Bond, formally known as the TR-122 form, along with the application for a Certificate of Manufactured Home Ownership. This requirement safeguards the department, future owners, and any other interested parties from potential losses or disputes regarding the home’s ownership. The TR-122 form binds the applicant and a licensed surety company to a legal agreement, ensuring financial coverage that is double the home’s value, protecting against claims of ownership discrepancies. Alongside the bond, the completion and submission process involve providing detailed information from both the applicant and the surety company, including signatures and comprehensive address details. Crucially, the bond’s validity spans five years, offering a window for claims to be made, after which, if unchallenged, the bond may be returned. This essential form and the associated process underscore the importance of establishing a recognized and undefeatable claim to ownership, aligning with the legal frameworks set by the Michigan Mobile Home Commission Act.
| Question | Answer |
|---|---|
| Form Name | Michigan Form Tr 122 |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | issuance, Surety, Michigan, MCL |
Michigan Department of Licensing and Regulatory Affairs
Uniform Surety Bond for Manufactured Home
(To be filed with the application for Certificate of Manufactured Home Ownership)
Applicant Name
Date
Residence Address
City
State
Zip Code
The above applicant wishes to apply for a Certificate of Manufactured Home Ownership for the following unit:
Year
Make
Serial Number
Size
Because the Michigan Department of Licensing and Regulatory Affairs is not satisfied as to the ownership of this manufactured home, the department requires the applicant to file this bond as a condition of issuing a Certificate of Manufactured Home Ownership pursuant to section 125.2330a(2) of the Mobile Home Commission Act [MCL 125.2330(a)(2)].
We, ________________________________ , as Principal, and ___________________________________ ,
(Name of Applicant)(Name of Authorized Surety Company)
as Surety, by this instrument firmly bind ourselves, our heirs, executors, administrators and successors, and assigns, jointly and severally, to the Michigan Department of Licensing and Regulatory Affairs, its officers and employees, for the benefit of any interested person, in the amount of $________________________ Dollars.
The Principal shall indemnify and hold harmless the Department of Licensing and Regulatory Affairs, every employee of the Michigan Department of Licensing and Regulatory Affairs, any prior owner, any subsequent purchaser of the manufactured home described above, and their successors in interest, against any expense, loss or damage, including reasonable attorney fees, by reason of the issuance of a Certificate of Manufactured Home Ownership to the Principal for the unit described above, or on account of any defect in the right, title or interest of the Principal in the manufactured home.
This bond is subject to the following provisions:
1.Any interested party may bring an action in the party’s own name to recover on this bond any damages sustained by the party for any breach of the conditions for which the bond is deposited, and may recover costs and reasonable attorney fees.
2.The Surety’s aggregate liability to all interested persons shall not exceed the amount set forth above.
3.If the manufactured home is no longer titled in this state and the currently valid Certificate of Manufactured Home Ownership is surrendered, the latest the bond will be returned is at the end of five years from the time it was issued, unless the department receives notification of pending action to recover on this bond.
The Principal and Surety have executed this bond on ___________________________, 20 ______.
APPLICANT – PRINCIPAL |
SURETY |
X___________________________________ |
X___________________________________ |
(Signature of Principal or Authorized Agent of Principal) |
(Signature of Authorized Agent of Surety Company) |
____________________________________ |
____________________________________ |
(Print or Type Name) |
(Print or Type Name) |
Michigan Department of Licensing and Regulatory Affairs
Manufactured Home Uniform Surety Bond
Instruction Sheet
1.Before you can title a manufactured home that has no clearly established record of ownership, you must file a Manufactured Home Uniform Surety Bond
2.The bond’s amount must equal twice the value of the manufactured home.
3.The person applying for the Certificate of Manufactured Home Ownership, whether an individual, partnership, firm or corporation, and a representative of the insurance company or bonding agency must sign the surety bond. Applicants are named as the “Principal” and must include their complete residence or business address.
4.The Michigan Department of Licensing and Regulatory Affairs must license the surety company. A duly authorized agent of the surety company must issue the bond. If the agent is a licensed nonresident agent, a licensed resident agent must countersign the bond.
5.The effective date of the bond must be no later than the date of application for the title.
6.A surety bond is issued for five years. If no claims are made against it at the end of five years, the department will return the bond.