Structure
The Michigan Tr 122 form plays a crucial role in the process of obtaining a Certificate of Manufactured Home Ownership. This form is necessary when there is no clear record of ownership for a manufactured home. By filing this bond with the Michigan Department of Licensing and Regulatory Affairs, applicants can demonstrate their commitment to indemnify the department and any interested parties against potential claims related to ownership disputes. The form requires the applicant to provide essential details such as their name, address, and information about the manufactured home, including its year, make, serial number, and size. The bond amount must equal twice the value of the manufactured home, ensuring adequate protection for all parties involved. Both the applicant, referred to as the Principal, and an authorized representative from a licensed surety company must sign the bond. This ensures that the bond is valid and enforceable. Additionally, the bond remains effective for five years, during which time it can be claimed if any issues arise regarding ownership. If no claims are made, the bond will be returned to the applicant after this period. Understanding the requirements and implications of the Michigan Tr 122 form is essential for anyone looking to secure their manufactured home ownership legally and effectively.
Form Example
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.
Document Specs
| Fact Name | Fact Description |
|---|---|
| Purpose | The Michigan TR 122 form serves as a Uniform Surety Bond required for applicants seeking a Certificate of Manufactured Home Ownership. |
| Governing Law | This bond is governed by the Mobile Home Commission Act, specifically section 125.2330a(2) of the Michigan Compiled Laws (MCL). |
| Bond Amount | The bond amount must equal twice the value of the manufactured home being titled. |
| Duration | A surety bond is valid for five years. If no claims are made during this period, it will be returned by the department. |
| Signatories | The bond must be signed by the applicant (Principal) and an authorized agent of the surety company. |
| License Requirement | The surety company must be licensed by the Michigan Department of Licensing and Regulatory Affairs. |
| Action for Damages | Any interested party can bring an action in their name to recover damages for any breach of the bond's conditions. |
| Return of Bond | If the manufactured home is no longer titled in Michigan and the valid Certificate is surrendered, the bond will be returned within five years unless notified of pending action. |
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