(a) If a manufactured home or a mobile home is to be affixed to real estate, the manufacturer's certificate of origin or the original document of title may be surrendered to the Department of Finance and Administration for cancellation.

(b) The department shall cancel a certificate of origin or the original document of title to a manufactured home or mobile home upon receipt of:

(1) The original manufacturer's certificate of origin or the original document of title showing an assignment of the manufactured home or mobile home to the party that will affix the manufactured home or mobile home to the real estate;

(2) An application for cancellation of the manufacturer's certificate of origin or the original document of title; and

(3)

(A) A copy of an affidavit of affixation to be recorded under § 14-15-402 in the county in which the manufactured home or mobile home is to be affixed.

(B) The affidavit of affixation shall include:

(i) The name of the manufacturer, the make, the model name, the model year, the dimensions, and the manufacturer's serial number of the manufactured home or mobile home;

(ii) A statement that the party executing the affidavit of affixation is:

(a) The owner of the real estate described in the affidavit of affixation; or

(b) Authorized by the owner of the real estate described in the affidavit to execute the affidavit of affixation on the owner's behalf;

(iii) The street address and the legal description of the real estate to which the manufactured home or mobile home is or shall be permanently affixed; and

(iv) One (1) of the following statements and applicable information:

(a) If the manufactured home or mobile home is subject to a security interest or lien:

(1) The name and address of each party holding a security interest or lien whether shown on a certificate of title issued by the department or otherwise perfected;

(2) The original principal amount secured by each security interest or lien; and

(3) A statement that each security interest or lien shall be released that attaches proof of the commitment to release the security interest or lien executed by the holder of the security interest or lien; or

(b) A statement that if a security interest or lien on the manufactured home or mobile home previously existed, the security interest or lien has been released that attaches proof of the release executed by the holder of the security interest or lien.

(c) The department shall also cancel an existing title or manufacturer's certificate of origin to any manufactured home or mobile home to be affixed to real estate if the owner affixing the home:

(1) Presents a court order directing the department to issue a title for cancellation, an application for cancellation of title or manufacturer's certificate of origin, and a copy of an affidavit of affixation to be recorded under § 14-15-402 in the county in which the manufactured home or mobile home is to be affixed; or

(2) Follows the bonded title procedure of this state under § 27-14-409(c) and submits an application for cancellation of title or manufacturer's certificate of origin and a copy of an affidavit of affixation to be recorded under § 14-15-402 in the county in which the manufactured home or mobile home is to be affixed.

(d) The Director of the Department of Finance and Administration may promulgate rules to administer this section.