EFFECT OF BENEFICIARY DESIGNATION DURING OWNER'S LIFE.

During a manufactured home owner's life, a beneficiary designation does not:

(1) affect an interest or right of the owner or owners making the designation, including the right to transfer or encumber the home that is the subject of the designation;

(2) create a legal or equitable interest in favor of a designated beneficiary in the home that is the subject of the designation, even if the beneficiary has actual or constructive notice of the designation;

(3) affect an interest or right of a secured or unsecured creditor or future creditor of the owner or owners making the designation, even if the creditor has actual or constructive notice of the designation; or

(4) affect an owner's or any designated beneficiary's eligibility for any form of public assistance, subject to applicable federal law.