Portable buildings and storage sheds serve as valuable additions to properties, offering extra storage space, workshops or even living accommodations if properly outfitted with utilities and ventilation. They don’t typically have a title or deed that’s separate from the land on which it is constructed. If they’re connected to your home or just built on your property, you own them. The only technical exception is if you financed the structure, in which case the lender will place a lien on your property like any other home or property improvement financing.

Deeds, Titles and Property Ownership

Deeds: A deed is a legal document that transfers ownership of real estate from one party to another. It typically includes information about the property, the names of the buyer and seller and a description of the transfer of ownership. Deeds are recorded in public records and serve as proof of ownership.

Titles: A property title is a legal document that establishes ownership of real property. It is often used interchangeably with the term "deed," but technically refers to the legal right to ownership rather than the physical document itself. Property titles are recorded in public records and may include information about any liens or encumbrances on the property.

Property Ownership: Property ownership is the legal right to possess, use and dispose of real property. Ownership rights may be held by individuals, corporations or other entities, and can be transferred through sale, inheritance or other means. Property ownership carries certain rights and responsibilities, including the payment of taxes and adherence to zoning regulations.

Portable Buildings and Storage Sheds

Unlike traditional homes, portable buildings and storage sheds are often considered personal property rather than real property. As with most fixtures, you typically have automatic ownership rights for buildings on your land, so there’s no title or deed requirements for establishing ownership.

There may be exceptions if a tenant of your property installed fixtures for business purposes, but this isn’t usually an issue if you pay for the construction of something on your property for your own use.

When you purchase a home, the deed and property title are transferred to you, establishing your ownership of the property. A portable building or storage shed built on your property is simply a piece of personal property on your land, not an additional piece of real estate.

Financing and Liens

When homeowners choose to finance the purchase of a portable building or storage shed through a loan or credit arrangement – or even finance a home improvement project like window, HVAC or roof replacement – they enter into a financial agreement that carries certain responsibilities and consequences:

• Loan Default: If a homeowner defaults on a loan used to finance a portable building, storage shed or any other improvement by failing to make timely payments. The lender can put a mechanic’s lien on the property, or a legal claim against the property for the outstanding debt. This typically means the property can’t be sold until the lien is paid off and the lender can pursue legal action against the owner.
  
  
• Risk of Foreclosure or Collections: While defaulting on a loan for a portable building or storage shed may not typically result in repossession of the structure itself, it can put the homeowner's property at risk. A significant loan can potentially lead to foreclosure or aggressive collection activities.
  
  
• Legal Remedies: Lenders may file a lawsuit against the homeowner. If the lender obtains a judgment against the homeowner, they may be able to garnish wages, seize assets or take other actions to collect the debt owed.

Explore Your Portable Building Options at Bestway Portable Buildings Inc. in Panama City, FL

Whether you're in need of extra storage space, a carport, a workshop or a charming tiki outdoor kitchen, Bestway Portable Buildings is the company to call.

Call (850) 747-8974 and tell us about your project idea. We would be happy to explain our capabilities, give you a quote and a potential project timeline.