Section 661.372.6. Sale or transfer of manufactured or mobile homes.

The following criteria apply to the sale or transfer of manufactured or mobile homes.

       372.6(1) Retailer sales.

        a.           A manufactured home, which was manufactured on or after June 15, 1976, and which is owned by a retailer, shall not be offered for sale unless the retailer has a properly assigned manufacturer’s certificate of origin or a certificate of title, a seal from the United States Department of Housing and Urban Development properly attached, a data plate attached by the manufacturer, and a manufacturer’s installation manual for the home, if the manual is available to the retailer. A retailer shall not sell a manufactured or mobile home owned by the retailer without delivering to the transferee a manufacturer’s certificate of origin or a certificate of title duly assigned to the transferee.

        b.           A used manufactured or mobile home with an Iowa title assigned to the retailer shall not be reassigned by the retailer. After acquiring the used home, the retailer shall obtain a new certificate of title as required by law.

       372.6(2) Transfers. A manufactured or mobile home not owned by a retailer may be offered for sale and sold by a retailer under the following conditions:

        a.           The manufactured or mobile home owner and retailer shall enter into a written listing agreement, signed by the owner or by one owner of a manufactured or mobile home owned jointly by more than one person, and signed by the retailer, which shall be dated and include the following provisions:

       (1)             The make, model year, and vehicle identification number.

       (2)             The period of time that the agreement shall remain in force.

       (3)             The commission or other remuneration that the retailer is entitled to receive.

       (4)             The price for which the manufactured or mobile home shall be sold.

       (5)             The name and address of the secured party, if the manufactured or mobile home is subject to a security interest.

       (6)             Any additional terms to which the owner(s) and retailer agree.

        b.           If current taxes have not been paid, the taxes and penalties shall be paid from the proceeds of the sale.

        c.           The retailer shall inform a prospective purchaser of a manufactured or mobile home that the home is not owned by the retailer and, if requested by a prospective purchaser, provide the name and address of the owner(s).

        d.           An offer to purchase a manufactured or mobile home shall be in writing.

        e.           The retailer shall make a written disclosure to the purchaser of the description of the manufactured or mobile home; the name and address of the owner; if the home is subject to a security interest, the name and address of the secured party; and, if the current taxes have not been paid, the amount of taxes and penalties due. The disclosure statement shall be signed and dated by the transferee. The disclosure statement shall be in duplicate. The original shall be given to the transferee and the duplicate retained by the retailer, at the retailer’s principal place of business, for a period of three years.

        f.            The documents required pursuant to this subrule shall be made available to the commissioner or any designee of the commissioner for inspection upon request.