Fill Your Michigan Tr 122 Template
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Documents used along the form
The Michigan TR-122 form serves as a Uniform Surety Bond for individuals seeking a Certificate of Manufactured Home Ownership. This document is essential for applicants whose ownership of a manufactured home is not clearly established. Alongside the TR-122, several other forms and documents are often required to ensure a smooth application process. Below are four important documents that may accompany the TR-122.
- Application for Certificate of Manufactured Home Ownership: This application is the primary document submitted to the Michigan Department of Licensing and Regulatory Affairs. It provides essential information about the manufactured home, including details such as the year, make, serial number, and the applicant's personal information.
- Title Transfer Form: This form is used when ownership of a manufactured home is being transferred from one party to another. It includes details about both the seller and the buyer, ensuring that the title reflects the current owner and complies with state regulations.
- Affidavit of Ownership: In cases where the ownership of the manufactured home is disputed or unclear, this affidavit may be required. It serves as a sworn statement from the applicant asserting their ownership and detailing any relevant history regarding the home.
- Small Estate Affidavit Form: To facilitate asset transfer after a person's passing, consider the essential Small Estate Affidavit form resources for a smoother process.
- Surety Company Licensing Verification: This document confirms that the surety company providing the bond is licensed to operate in Michigan. It is crucial for ensuring that the bond is valid and enforceable under state law.
Each of these documents plays a vital role in the application process for a Certificate of Manufactured Home Ownership. By understanding their purpose and ensuring they are properly completed, applicants can navigate the requirements more effectively, facilitating a smoother transition into ownership.
Michigan Tr 122 Preview
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.
Similar forms
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Surety Bond for Vehicle Ownership Transfer: Similar to the Michigan TR 122 form, this document is required when ownership of a vehicle is unclear. It serves as a guarantee that the applicant will indemnify the state against any claims regarding ownership disputes.
-
Real Estate Title Bond: This bond is used in real estate transactions where the title is in question. Like the TR 122, it protects parties involved by ensuring that any ownership claims will be addressed, providing a financial safety net.
-
Contractor License Bond: Required for contractors to operate legally, this bond ensures that they will comply with local regulations. It parallels the TR 122 in that it protects the public from potential financial loss due to the contractor's actions.
-
Business License Bond: This bond guarantees that businesses will adhere to laws and regulations. Much like the TR 122, it serves as a form of protection for the government and the public against any misconduct by the business owner.
- Nevada Promissory Note: This legally binding document outlines the terms of a loan agreement, ensuring both lenders and borrowers understand their obligations. For more details, visit promissoryform.com/blank-nevada-promissory-note/.
-
Judicial Bond: Often required in court cases, this bond ensures that a party will fulfill their obligations as ordered by the court. Similar to the TR 122, it provides financial assurance to other parties involved in legal proceedings.
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Misconceptions
Understanding the Michigan Tr 122 form is crucial for anyone looking to apply for a Certificate of Manufactured Home Ownership. However, several misconceptions exist regarding this form. Here are eight common misunderstandings:
- The bond is optional. Many believe that filing the bond is not necessary. In reality, it is a requirement if there is no clear record of ownership for the manufactured home.
- The bond amount is arbitrary. Some think they can choose any amount for the bond. The bond must equal twice the value of the manufactured home, as specified by the Michigan Department of Licensing and Regulatory Affairs.
- Only individuals can apply. There is a misconception that only individuals can file the bond. In fact, partnerships, firms, and corporations can also apply for the Certificate of Manufactured Home Ownership.
- Any surety company can issue the bond. Not all surety companies are qualified. The surety company must be licensed by the Michigan Department of Licensing and Regulatory Affairs.
- The bond lasts indefinitely. Some believe that the bond remains in effect forever. However, the bond is valid for five years and will be returned if no claims are made during that period.
- Only the applicant needs to sign the bond. It is a common belief that only the applicant's signature is necessary. Both the applicant and a representative of the surety company must sign the bond.
- The bond can be dated after the application. Some applicants think they can date the bond after submitting their application. The effective date of the bond must be no later than the application date for the title.
- The bond protects only the applicant. Many assume that the bond only serves the applicant's interests. In reality, it protects all interested parties, including prior owners and subsequent purchasers.
Clarifying these misconceptions can help ensure a smoother application process for a Certificate of Manufactured Home Ownership in Michigan.
Detailed Instructions for Using Michigan Tr 122
Filling out the Michigan TR-122 form is a crucial step for those seeking a Certificate of Manufactured Home Ownership. This process ensures that all necessary information is accurately provided, which can help avoid delays in obtaining the certificate.
- Begin by entering the Applicant Name at the top of the form.
- Fill in the Date of completing the form.
- Provide your Residence Address, including City, State, and Zip Code.
- Next, specify the details of the manufactured home by filling in the Year, Make, Serial Number, and Size of the unit.
- In the space for Principal, write your name as the applicant.
- Enter the name of the Authorized Surety Company in the designated area.
- Indicate the bond amount by writing in the appropriate dollar amount.
- Sign the form where indicated as the Principal or an authorized agent.
- Have an authorized agent from the surety company sign the form as well.
- Print or type your name and the name of the surety agent in the spaces provided.
- Ensure that the effective date of the bond is no later than the application date for the title.
- Submit the completed form along with your application for the Certificate of Manufactured Home Ownership to the Michigan Department of State.
After completing these steps, make sure to keep a copy of the form for your records. This documentation will be important for any future inquiries or claims related to the bond. Following this process carefully can help ensure a smoother experience in obtaining your manufactured home ownership certificate.
Dos and Don'ts
When filling out the Michigan TR-122 form, it is crucial to follow specific guidelines to ensure the application is processed smoothly. Here are ten important things to do and avoid:
- Do provide your full name and correct residence address.
- Do ensure that the surety bond amount is at least twice the value of the manufactured home.
- Do have all required signatures, including those of the applicant and the surety company representative.
- Do confirm that the surety company is licensed by the Michigan Department of Licensing and Regulatory Affairs.
- Do make sure the effective date of the bond aligns with the date of your application for title.
- Don't leave any sections of the form blank; fill in all required fields completely.
- Don't forget to include the serial number and other specific details of the manufactured home.
- Don't use an unlicensed surety company; this can lead to delays or rejection of your application.
- Don't submit the bond without checking for accuracy in all information provided.
- Don't neglect to keep a copy of the completed form for your records.
Following these guidelines can help streamline the process and reduce the likelihood of complications. It is essential to approach this task with care to ensure a successful application for your Certificate of Manufactured Home Ownership.