A Virginia lender argues in 2026 that a manufactured home not bolted down is separate collateral it may take. How is the manufactured home on the mortgaged land treated for the collateral restriction?
Correct Answer
B) Wrong: the home on the land is within the property, affixed or not
The collateral the lender may take includes the real estate or residential property securing the loan, its fixtures and appliances, and any mobile or manufactured home placed on the real estate even if not permanently affixed, so the home is inside the permitted collateral rather than an extra pledge. Other choices: the statute answers the personal property argument in terms; separate titling does not move it outside; and no period of placement is required. Source: Va. Code § 6.2-1614(2)
Why This Is the Correct Answer
The collateral the lender may take includes the real estate or residential property securing the loan, its fixtures and appliances, and any mobile or manufactured home placed on the real estate even if not permanently affixed, so the home is inside the permitted collateral rather than an extra pledge. Other choices: the statute answers the personal property argument in terms; separate titling does not move it outside; and no period of placement is required. Source: Va. Code § 6.2-1614(2)
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