Who is the Transferee in the context of ownership transfer?

In the context of ownership transfer, the Transferee refers to the individual who is receiving ownership of a manufactured home. This is a key concept in property law, where ownership does not simply change hands but involves the transfer of rights and responsibilities tied to that property. The Transferee is typically the person who enters into an agreement to take ownership from the current owner (the Transferor), thus acquiring the legal title to the manufactured home.

The Transferee's role is essential because it signifies the party that will have rights such as the ability to use, sell or lease the manufactured home in the future. Understanding the responsibilities and rights associated with being a Transferee is crucial for anyone involved in real estate transactions, particularly in the realm of manufactured housing where specific laws and regulations are in place.