Hochul signs law to protect mobile homeowners - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
October 27, 2023 Newswires
Share
Share
Post
Email

Hochul signs law to protect mobile homeowners

Daily Mail, The (Catskill, NY)

Mobile home owners have new rights under new state laws signed Wednesday by Gov. Kathleen C. Hochul.

One bill expands the right of first refusal that owners in mobile home parks have when the owner of their park moves to sell the property. Under prior laws, the owners of a mobile home park had to give the residents of the park the opportunity to purchase the property themselves, either individually or as an association, whenever they found a purchaser who wanted to convert the land to another use. Under the law signed Wednesday, mobile home owners have the right of first refusal whenever the land owner moves to sell, regardless of the new buyer's intended use for the land.

Large corporations have taken to purchasing mobile home parks across the country, keeping them as mobile home parks but dramatically raising lot fees, utility fees and other costs on residents. Advocates have called for legislation that would cut down on this trend, to keep mobile home parks as affordable-housing options, and pushed for the bill signed by Hochul on Wednesday.

"This bill package will empower residents to have a fair shot at protecting their communities from owners who don't share their vision for the mobile home park," said state Sen. James Skoufis, D-42.

Another bill in the package allows for the state of New York Mortgage Agency to purchase mortgages and offer mortgage pool insurance for modular and manufactured homes. Typically, these homes are purchased using personal property loans, which are not subject to all of the same protections and regulations as mortgages. By allowing the state's mortgage agency to purchase mortgages for the homes and offer insurance for blocks of mortgages on the homes, banks will be able to offer mortgages to customers for purchases.

The final bill in the package tweaks state law to bring it into alignment with federal laws on manufactured homes, clarifying gaps between state and federal laws that advocates say may have made manufactured homes less safe. Federal rules regulate the construction and maintenance of manufactured homes, but require state agencies to enforce those rules. The federal government also requires that state regulations on manufactured homes match federal rules. New York's law did not match federal language when establishing penalties for violating safety rules.

"Manufactured homes are often the only affordable-housing and homeownership opportunities in districts like mine and throughout much of New York state," said Assemblymember Didi Barrett, D-106. "I thank Gov. Hochul for signing this critical piece of legislation aligning state and federal policies to better deter exploitative investors and firms, keeping occupants safe."

Older

AM Best Affirms Credit Ratings of Investors Title Company and Its Subsidiaries

Newer

Triple-I Offers 7 Tips to Keep Halloween’s Risks from Haunting You

Advisor News

  • Health insurance premium tax bill advancing
  • The Medi-Cal money pit
  • The untapped potential of Qualified Longevity Annuity Contracts
  • NYC's fiscal outlook on downslide over budget gaps
  • Health insurance premium tax bill moving in Iowa House
More Advisor News

Annuity News

  • An Application for the Trademark “GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY” Has Been Filed by Great-West Life & Annuity Insurance Company: Great-West Life & Annuity Insurance Company
  • The forces shaping life and annuities in 2026
  • Variable annuity sales surge as market confidence remains high, Wink finds
  • New Allianz Life Annuity Offers Added Flexibility in Income Benefits
  • How to elevate annuity discussions during tax season
More Annuity News

Health/Employee Benefits News

  • From $500 to $1.5K: Marylanders feel financial impact of expired ACA tax credits
  • The politics behind America's new health insurance shock
  • Health insurance premium tax bill advancing
  • Families oppose bill locking in Iowa Medicaid privatization
  • The Medi-Cal money pit
More Health/Employee Benefits News

Life Insurance News

  • Hulse, Murray
  • Murray Giles Hulse
  • Oaktree grabs control of Atlantic Coast Life Co. in blockbuster A-Cap deal
  • AM Best Removes From Under Review With Developing Implications and Downgrades Credit Ratings of Banner Life Insurance Company and William Penn Life Insurance Company of New York
  • The forces shaping life and annuities in 2026
More Life Insurance News

- Presented By -

Top Read Stories

More Top Read Stories >

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Elevate Your Practice with Pacific Life
Taking your business to the next level is easier when you have experienced support.

Your Cap. Your Term. Locked.
Oceanview CapLock™. One locked cap. No annual re-declarations. Clear expectations from day one.

Ready to make your client presentations more engaging?
EnsightTM marketing stories, available with select Allianz Life Insurance Company of North America FIAs.

Press Releases

  • RFP #T02226
  • YourMedPlan Appoints Kevin Mercier as Executive Vice President of Business Development
  • ICMG Golf Event Raises $43,000 for Charity During Annual Industry Gathering
  • RFP #T25521
  • ICMG Announces 2026 Don Kampe Lifetime Achievement Award Recipient
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet